JOANN Fabrics and Crafts, seen Tuesday in the Auburn Plaza on Center Street, is among three stores identified for closure after the company filed for bankruptcy a second time in January. The date for closing has not been made public. Daryn Slover/Sun Journal
Three Maine locations of JOANN Fabrics and Crafts are among the more than 500 stores slated for closure this year, after the company filed for Chapter 11 bankruptcy for a second time last month.
“The last several years have presented significant and lasting challenges in the retail environment, which, coupled with our current financial position and constrained inventory levels, forced us to take this step,” according to interim CEO Michael Pendergast in a statement announcing the filing.
JOANN has identified 533 of its 831 stores as “underperforming” and Auburn, Topsham and Waterville are on the list. While it has not publicly set a date for the closures, they are expected within six months.
For 80 years, JOANN has been a regular stop for crafters, quilters and crocheters, which means the bankruptcy will have huge effects on the wider craft industry, according to the Craft Industry Alliance. The company said it sourced about 65% of its product from domestic suppliers in 2024.
Shoppers still have two options in Auburn to find the products: Michaels in the Shaws Plaza on Center Street and Hobby Lobby at 65 Mt. Auburn Ave.
This story was originally published as part of “Extra Space Storage ready to open in Auburn” The Buzz offers quick hits about trending area business happenings. Have a Buzzable tip? Contact business writer Christopher Wheelock at 689-2817 or cwheelock@sunjournal.com
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