JOANN, the fabric and crafts retailer, has commenced store closing sales at all 790 locations nationwide. The sale offers customers significant discounts on a wide assortment of crafting, sewing, and home décor products while supplies last. Initial discounts start at up to 40% off store merchandise.
The store closing process is being managed by GA Group, a leading asset disposition, valuation, appraisal, and real estate services firm with extensive expertise in large-scale retail liquidations, together with Tiger Group as part of a joint venture.
“JOANN has been a beloved destination for makers and craft enthusiasts for more than 80 years,” said Tim Shilling of GA Group. “As we begin this store closing process, our priority is to ensure an orderly wind-down of the retailer’s operations while providing customers with exceptional savings on their favorite crafting and home décor products. This sale is a great opportunity for shoppers to take advantage of these deep discounts before stores close.”
Tiger Group, the financial, disposition, asset-valuation and advisory services firm, which is assisting in managing the store closing sales, emphasized the opportunity for customers to take advantage of these special discounts. “This sale represents an extraordinary chance for JOANN’s loyal customers to find great deals on their favorite craft and home décor supplies,” said Michael McGrail of Tiger Group. “We encourage shoppers to visit early for the best selection.”
GA Group was recognized as the successful bidder to serve as JOANN’s exclusive agent to monetize substantially all of JOANN’s assets pursuant to an auction approved by the U.S. Bankruptcy Court for the District of Delaware on February 26, 2025.
All sales are final during this store closing event. The sale is expected to last for approximately 12 weeks, until the end of May, or until supplies last. All furniture, fixtures, and equipment are also available for purchase. The retailer’s intellectual property and leases will also be sold as part of this process.
