Published February 12. 2025 03:56PM
Joann fabric and craft retailer announced Wednesday it will be closing about 500 stores nationwide, almost a year after filing for bankruptcy. One of the stores on the list is the Whitehall store, located at 2570 MacArthur Road, according to a report from CBS News.
The Hudson, Ohio-based company, which operates more than 800 stores, declared bankruptcy in March 2024 while reporting between $1 billion and $10 billion in debt. The retailer blamed higher costs from shipping overseas products, as well as waning consumer demand.
In January, the company began Chapter 11 proceedings to start a sale process.
“After carefully reviewing all available strategic paths to address our ongoing industry, economic and financial challenges, JOANN and its financial stakeholders determined that initiating a court-supervised sale process is the best course of action to maximize the value of the business,” the company said in a statement. “Right-sizing our store footprint is a critical part of our efforts to ensure the best path forward for JOANN.”