No looking good for Joann
Today, Sadie & I went to the Alpharetta Joann store. Our mission was to find fabric to make another sample tote bag for the beginning sewing class at the SQTM. We ended our shopping trip with Sadie saying good-bye to several staffers we’ve gotten to know from previous visits. Joann received a lot more business from me because of its pet friendly policy once the local quilt shops in the area that were pet friendly closed.
Employees didn’t say much about the future of the company. One did say she hoped a new buyer would be found so that the fabric and sewing part might return after the bankruptcy was over. I agree. Joann fills a niche that Hobby Lobby, Michaels and Wal-Mart don’t.
This store reminds me of what Hancock Fabrics stores looked like before it went out of business (i.e. liquidation sales began). There are posters in the check-out area reminding staff not to accept any more deliveries. Lots of holes in the shelves where merchandise would normally be. Disorganized bolts of fabric set out in big cardboard bins in the middle of the floor. (The bins resemble the Gaylord boxes I used at the end of the school year to discard weeded library books and outdated instructional materials. They came in on pallets and were hauled away once full.)
WARN act notices (about pending layoffs) are being filed in states where Joann does business. The one filed in Ohio, where Joann is based, shows that the business wind down will happen quickly, with most staff being gone by the end of March/April.
Joann has agreed to sell itself to Gordon Brothers Retail (who has indicated its plan to liquidate the company) should another buyer not be found in the next 10 days.
You read correctly. Joann has about 10 days before it goes back to bankruptcy court and sells itself to the highest bidder. If you have a gift card, get to the store NOW to redeem it while it still has value and there’s some inventory left from which to shop.
And should Joann not rise from bankruptcy, we’ll figure out other ways to get our fabric and craft fix.
We always do.