The craft retailer Joann is offering significant discounts before shutting down its stores by the end of the month.
The company’s website is listing sales ranging from 50% to 80% off for in-store purchases marked as “closure of business,” with some exclusions and varying discounts depending on the location.
For instance, Joann’s website notes that customers can find threads and related items at a 50% discount, while home decorative fabrics and trims may be available at discounts from 50% up to 80%.
To make purchases, shoppers must visit physical stores, as online sales were only available earlier in March.
The closure sales commenced in early March, roughly seven weeks after the craft retailer filed for Chapter 11 bankruptcy. The company had previously declared bankruptcy last year.
These “closure of business” sales are part of the transition under the GA Group, which, alongside a pre-measuring term loan agent, assumed control of nearly all of Joann’s assets in February.
Following the successful bid by GA Group and the loan agent, Joann expressed a commitment to working with the bidders to manage the process while minimizing disruption for all involved.
According to the bankruptcy filing, Joann had around 800 stores throughout the U.S. at the time of the filing in January.
Since then, numerous locations have been closed, as reported by various outlets.
The stores that remain open will continue their sales “until the end of May or until supplies last,” as stated by the GA Group in a March announcement.
When Joann’s remaining locations close, it will mark the end of an eight-year presence for the craft retailer, which originally started in 1943.
