[Update] Joann Fabrics shutting down

[BlueStarryHat]

I wonder how long the website will be available? If at all. I started a blanket with their Big Twist yarn, and if the stores near me don't have any and the website goes south I'll have to unravel it all and start again, combining it with some other yarn from another retailer.

 

[fla4fun]

I wonder how long the website will be available? If at all. I started a blanket with their Big Twist yarn, and if the stores near me don't have any and the website goes south I'll have to unravel it all and start again, combining it with some other yarn from another retailer.

I don’t know but I wouldn’t wait if you need stock to finish your project.

 

[VandVsmama]

I'm not going to miss it. Every Joann's I've ever been in smells weird.

 

[Nayan]

Try looking at who makes the yarn you need and go to their site (Bernat, Caron, etc.). The last time I needed yarn to finish a project and Joann's didn't have it I ordered it from Yarnspirations, which has many of the brands/colors Joann's has/had. Plus a ton of free patterns .

 

[CGB]

I will miss my local store a lot. I wish they could have worked this out.

 

[mom2rtk]

I make my own bias tape.

Yes, I have done this and will likely have to start doing it for most of my things. Which is a huge step backwards in time.

It's one thing to do it on odd occasion. But I sew a large quantity of costumes and needing to slow down and cut and sew bias tape together is a huge time suck I didn't need.

 

[mom2rtk]

So it's official now. They were purchased by a liquidation company. All stores closing and stock being liquidated. They haven't said specifically that the online site will closed, but it's widely assumed it will go as well.

 

[mom2rtk]

One less place. One less place for crafts. Thanks a lot Amazon.

I actually don't think Amazon was huge competition for JoAnn. Who's buying fabric online sight unseen in precut quantities? I've never found fabric and notions there that I always find and buy at JoAnn. I buy a ton of fabric online, but only after ordering and waiting for swatches to arrive.

I think in this case it was terrible management of their company. Bad debt structuring through the years, bad inventory management, bad assumptions about business, bad customer service. Of course everyone will say it's just a sign of the times, but they did so much wrong on their own.

 

[disneyseniors]

I wonder how long the website will be available? If at all. I started a blanket with their Big Twist yarn, and if the stores near me don't have any and the website goes south I'll have to unravel it all and start again, combining it with some other yarn from another retailer.

That sounds awful! Maybe you could go online and order it now before they close. I went to our JoAnns store yesterday and they had a lot of big twist yarn. There were alot of people shopping the discounts. I read that out of 800 stores, they are closing 500. I thought they were closing all of them! I know our store is closing soon and am sad about that.

 

[bcla]

So it's official now. They were purchased by a liquidation company. All stores closing and stock being liquidated. They haven't said specifically that the online site will closed, but it's widely assumed it will go as well.

Certainly sounds like everything is being liquidated.

https://cdn.prod.website-files.com/67817680c8de2134544a40b6/67bb41994b9e40c89d95dc03_Customer FAQ.pdf​

​

10. Will there be changes to the products available at JOANN stores or on JOANN.com?​

• Customers will have the opportunity to purchase our assortment at special prices during the going-out-of- business sales.
• JOANN stores, JOANN.com and the mobile app will remain open and operating as we have been as we conduct the going-out-of-business sales.

I went to my closest store a few days ago to see what they had. Kind of slim pickings, but they had low stock on certain items well before they had announced store closings. Ended up buying some heavy duty thread for buttons at 40% off, although previously I could have bought that one item with a 40% off coupon (sometimes 50% off). My main concern would be getting this sort of stuff in the future. My closest Michaels store (not a sewing store per se but they have thread for crafting) isn't that far away, but not terribly convenient either.

 

[bcla]

That sounds awful! Maybe you could go online and order it now before they close. I went to our JoAnns store yesterday and they had a lot of big twist yarn. There were alot of people shopping the discounts. I read that out of 800 stores, they are closing 500. I thought they were closing all of them! I know our store is closing soon and am sad about that.

Shutting down most (but not all) stores was the original plan. Since they couldn't find a buyer they've opted to liquidate everything and close down all their stores.

 

[SC Minnie]

I'm very sad they are closing all stores. Their selection of yarn was much better than Micheals and HL.

 

[PrincessShmoo]

Customers will have the opportunity to purchase our assortment at special prices during the going-out-of- business sales.

They're saying that the "special prices" will be in the 10-20% off area. Not really that much.

 

[bcla]

They're saying that the "special prices" will be in the 10-20% off area. Not really that much.

I didn't quite get it when I saw some items were only 10% off whatever shelf price there was. I specifically remember coupons for 40-50% off a single item.

 

[cabanafrau]

I didn't quite get it when I saw some items were only 10% off whatever shelf price there was. I specifically remember coupons for 40-50% off a single item.

What's not to get? A liquidating company has purchased the inventory, likely for as deep a discount as they could negotiate, and are now going to try and flip it for as wide of a profit margin as they can. The entity of JOANN is bankrupt and defunct. Their system of coupons and discounts is no more and doesn't bear on the situation today.

 

[BlueStarryHat]

That sounds awful! Maybe you could go online and order it now before they close. I went to our JoAnns store yesterday and they had a lot of big twist yarn. There were alot of people shopping the discounts. I read that out of 800 stores, they are closing 500. I thought they were closing all of them! I know our store is closing soon and am sad about that.

I don't want to do an online order because if the website goes down with no warning I'll be up the creek. We have three Joann stores in my area. My sister and I are going to hit them on Friday to see if I can get enough to finish my project.

 

[bcla]

What's not to get? A liquidating company has purchased the inventory, likely for as deep a discount as they could negotiate, and are now going to try and flip it for as wide of a profit margin as they can. The entity of JOANN is bankrupt and defunct. Their system of coupons and discounts is no more and doesn't bear on the situation today.

They still have coupons though. Most are through the app though, like $5 off at least $35, but the coupon terms say they're not valid with any other discount. Not sure how that works though.

https://www.joann.com/coupon/

In addition to that, part of the liquidation sale started before they sold it off to a liquidation company. I was seeing that 10% off certain items before then. That was back when they were liquidating inventory but not necessarily the entire company.

 

[PrincessShmoo]

They still have coupons though. Most are through the app though, like $5 off at least $35, but the coupon terms say they're not valid with any other discount. Not sure how that works though.

https://www.joann.com/coupon/

In addition to that, part of the liquidation sale started before they sold it off to a liquidation company. I was seeing that 10% off certain items before then. That was back when they were liquidating inventory but not necessarily the entire company.

They are also not accepting any gift cards that people may have already purchased/gifted.

 

[kdonnel]

I didn't quite get it when I saw some items were only 10% off whatever shelf price there was. I specifically remember coupons for 40-50% off a single item.

Here is a great podcast on liquidation sales.

https://freakonomics.com/podcast/going-out-of-business-sales/

 

[bcla]

They are also not accepting any gift cards that people may have already purchased/gifted.

Their info says they'll be accepted until Feb 28. Not sure how that was determined, since gift cards/certificates are an obligation unless a bankruptcy judge approves a final date for them to be accepted. I suppose this could have a contingency (total wind down) that the judge previously approved if there was no buyer willing to keep the company running.