Joann Fabrics to Close 500 Stores Nationwide Amid Second Bankruptcy Filing

Joann Fabrics to Close 500 Stores Nationwide Amid Second Bankruptcy Filing Bad news for craft lovers—Joann Fabrics is shutting down 500 stores across the country. Yes, you read that right. Half a thousand. That’s a lot of lost thread, fabric, and those little buttons shaped like ladybugs. The beloved fabric and craft store has been a go-to for sewing enthusiasts, DIYers, and last-minute school project saviors. But due to financial struggles, Joann has filed for bankruptcy—again. This marks their second time facing serious money troubles, and unfortunately, this time, they’re cutting back in a big way.