Joann Inc.'s move to stop filming gift cards since February 28th has angered some of the craft retailer's customers as the company shuts down.
The company announced earlier this year that it had participated in its second Chapter 11 Bankruptcy Protection to “facilitate the sales process to maximize the value of its business.”
Joan first applied for Chapter 11 in March 2024.
Joan said on February 23 that the GA Group and its prep loan agents would become “virtually everything” owners of the retailer's assets, and those bidders began to start selling the business all over Joan.
Joan's store said it will “accept gift cards until February 28th,” according to documents on the retailer's restructuring website.
The company has hundreds of locations in the US.
In a press release earlier this month, GA Group said that closing sales in stores will be “until the end of May or until consumables continue.”
Ed Semmler / South Bend Tribune / USA Today Network Imagn Images
Social media users have expressed their recent complaints about their inability to use Joanne's gift cards.
Facebook users call Joan “not honour gift cards when he's willing to accept money for them” and “highway robbers.”
“I want you to know how incredibly upset you are to cut off your ability to use gift cards. Regardless of the fact that you are closing, your business is taking money and refusing to offer products in exchange,” an Instagram user said.
“So you disconnected your gift card very quickly, almost notified, and with that,” another Instagram user said.
Fox Business contacted Joanne for comment.
Joan said on his rebuild website that the website and app will remain open for viewing and product availability information only, leaving the door open until sales end.
Customers need to go to physical stores to make a purchase.
In a bankruptcy filing in January, the retailer estimated that it had between $1 billion and $10 billion in assets and liabilities.
