Many arts and crafts hobbyists were recently disappointed to find that their gift cards are no longer being accepted at
Joann Fabrics . The chain made the announcement in a
Customer FAQ after declaring bankruptcy for the second time in a year, explaining that gift cards would only be accepted through Feb. 28. Some customers have fled to the store's social media to complain about missing the redemption window, asking why their gift cards can't be accepted if they've already been paid for. One such comment under the store's
March 13 Facebook post reads, "I still have gift cards that were given to me in Jan. If you knew you were closing then don’t sell them. They won’t take them." Find out more about the chain's closures below.
Why is Joann closing its stores?
Joann initially said it would be closing
"approximately 500" of its 850 stores after filing for Chapter 11 bankruptcy. But after the chain was auctioned off to a new ownership group, it switched gears and said all of its stores
would be shutting down . “Following a comprehensive sale process and auction, GA Group together with the prepetitionterm loan agent, has been selected as the winning bidder to acquire substantially all of JOANN’sassets," the company said
in a statement . "In connection with this agreement, subject to bankruptcy court approval of the transaction, the winning bidders plan to begin winding down the company's operations and conduct going-out-of-business sales at all store locations." The store continued, "JOANN leadership, our board, advisors and legal partners made every possible effort to pursue a more favorable outcome that would keep the company in business."
When is Joann Fabrics closing?
Joann Fabrics going-out-of-business sales started on Feb. 15, but its stores will remain open for several more months. Scott Carpenter, CEO of GA Group's
Retail Solutions and
Wholesale & Industrial Solutions teams, told the Akron Beacon Journal that
most of the closing stores would remain open through the end of May.
What to know about Joann Fabrics closure sales
The chain announced on March 11 that its stores would be offering discounts of
up to 50% , an increase from its previous
40% sale . The store said it will
no longer be accepting online orders , only in-store purchases.
How many stores are closing in Illinois?
Nearly 200 of the chain's closures are set to take place in Great Lake states, with the majority shutting down in Detroit and the Chicagoland area. Here's the list of the 36 stores scheduled to close in Illinois.
