Joann Fabric and Craft Store Closure in Florence, SC

News Summary

Florence, South Carolina will see the closure of its Joann Fabric and Craft Store as part of the company’s decision to shut down 500 locations nationwide due to Chapter 11 bankruptcy. The local store, a vital resource for craft enthusiasts, will remain open while employees continue to receive pay and benefits. The closures stem from financial challenges and over-expansion, and Joann aims to restructure under new ownership while navigating significant shifts in the retail landscape.

Florence Shaken by Joann Fabric and Craft Store Closures

Florence, South Carolina, is in for some big changes soon as Joann Fabric and Craft Stores announced they will be closing 500 locations nationwide, including our very own store at the Florence Mall on West Palmetto Street. It’s a bit of a shock for many craft enthusiasts in the area who rely on the store for their creative projects and DIY supplies.

What’s Behind the Scenes?

The closures are part of Joann’s larger strategy as they navigate through Chapter 11 bankruptcy proceedings. This legal step is not just a formality; it allows Joann to reorganize and go through a sale process to maximize its business value. Joann has filed in the U.S. Bankruptcy Court for the District of Delaware, which is a fairly common practice for companies wanting to regain their footing.

Despite the gloomy news, if you’re worried about shopping, you can still visit the Florence store or shop online at JOANN.com. The lights are still on, and employees are being looked after, continuing to receive their pay and benefits while everything gets sorted out.

A Look Back at Joann’s Journey

Joann Fabric and Craft has quite a story to tell; they have been around for over 80 years, starting with a single store in Cleveland, Ohio. Fast forward to today, and they are proud to have more than 800 locations across 49 states. However, the store closures were not made lightly. After a thorough review of their operations, the company realized that over-expansion led to this necessary decision.

Understanding the Financial Challenges

Joann initially filed for bankruptcy back in March 2024, only to later become privately held. Then in January 2025, they were once again under financial strain, prompting them to file again. The reasons for these struggles were tied to significant challenges in the retail environment, issues with inventory levels, and their overall financial health.

Initially, only a handful of closures were flagged, but as the situation evolved, the company decided to expand their plans to around 500 store closures across 40 states. The key states affected include California, Florida, Pennsylvania, Ohio, and Michigan. It’s hard to imagine all these crafting havens shutting down.

What Lies Ahead?

So what’s next for Joann? Their intention is to court a buyer for their assets, with Gordon Brothers Retail Partners, LLC in line as the “stalking horse” bidder. If another bidder steps up with a better offer, we could see an auction to determine who gets to buy the company’s assets outright. While the future remains uncertain, the goal behind this plan is to right-size their footprint, ensuring that the company can continue to be viable moving forward.

The closures and restructuring bring mixed feelings for customers and employees alike, who cherish the community aspect that craft stores bring. As we watch these changes unfold, let’s keep our fingers crossed that Joann can bounce back stronger than ever. After all, the crafting community is all about resilience and creativity!

Final Thoughts

Florence is about to undergo some changes with the closing of the Joann Fabric and Craft store. Whether you’re an avid crafter or just someone who dabbles in DIY projects, it is hard not to feel the impact of these closures. Here’s hoping we can find a way to keep the spirit of crafting alive, no matter where we have to shop.

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Additional Resources

• WPDE: Florence Mall Location Amongst Joann Store Closures
• Kentucky.com: Joann Fabric Store Closures Announcement
• Good Housekeeping: Joann Fabrics Stores Closing Nationwide
• WCPO: Joann Closing Around 500 Stores Nationwide
• Wikipedia: Joann Fabric and Craft Stores