GA Group coordinated the largest retail liquidation by square footage in U.S. history, managing the closure of 790 JOANN fabric and craft stores across 49 states.
The liquidation covered 18 million square feet of retail space and more than $2 billion in inventory. The effort involved real estate sales, asset auctions, and marketing campaigns to drive store traffic and merchandise sell-through during the shutdown period.
GA Group applied a strategy built on previous retail wind-downs, including Bon Ton and Hancock Fabrics, and partnered with Oaktree Capital to guarantee returns to creditors. The firm leveraged its in-house auction services, wholesale channels, and machinery and equipment division to monetize assets quickly. Seasonal and overstock goods were sold through established buyer networks.
The real estate component of the liquidation was handled internally, with leasehold interests marketed and sold as part of a broader monetization strategy. GA also deployed operational teams to every store, ensuring coordinated management nationwide.
A central piece of the execution was a full-scale marketing campaign using paid digital ads, targeted email, push notifications, and influencer outreach within DIY and crafting communities. The campaign aimed to maintain customer engagement while boosting traffic during the sales period.
The liquidation’s scale and speed mark a significant moment in the evolution of retail restructuring in the U.S. GA Group’s multifaceted approach enabled a controlled exit for JOANN, preserving asset value and customer goodwill through the transition.
