A beloved craft store is shutting its doors for good. After decades of serving DIY enthusiasts, the well-known retailer is preparing to liquidate all remaining locations. The decision follows a major financial shake-up that sealed its fate.
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Retail liquidator GA Group and Joann’s term lenders placed the winning bid for the struggling business during an auction on Saturday, February 22. According to federal court records, the results of the sale are expected to be approved on Wednesday, March 5 in the U.S. Bankruptcy Court for the District of Delaware.
In collaboration with its new owners, the Hudson, Ohio-based company confirmed that all locations would shut down following storewide liquidation sales.
