Joann to close three Central Mass. locations as part of second bankruptcy in a year
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Joann will close three Central Massachusetts shops as part 500 locations the company looks to shutter nationwide.
Fabric and crafts retailer Joann will shutter four of its Central Massachusetts locations in the latest development of the strained Ohio-based company’s ongoing bankruptcy proceedings.
The retailer will close locations in Natick, Shrewsbury, and Leominster as it ceases operations at about 500 stores throughout the country, including 19 total in Massachusetts, according to the company’s restructuring website. The closures represent more than half of Joann’s 800 stores nationwide.
The Joann store in Milford is not on the list of those expected to close, and that Milford Plaza location will be in the only store remaining in Central Massachusetts after the Natick, Shrewsbury, and Leominster locations close.
Joann has not released the date when the stores will be closed.
“This was a very difficult decision to make, given the major impact we know it will have on our team members, our customers, and all of the communities we serve. A careful analysis of store performance and future strategic fit for the company determined which stores should remain operating as usual at this time. Right-sizing our store footprint is a critical part of our efforts to ensure the best path forward for JOANN,” Joann said in an email to WBJ.
Marking its second bankruptcy filing in less than a year, Joann entered into voluntary Chapter 11 proceedings with the U.S. Bankruptcy Court for the District of Delaware on Jan. 15, according to a press release from the same date. Joann filed for bankruptcy back in March, emerging from proceedings in April as a private company.
The retailer cited industry challenges and financial and inventory constraints as its catalyst for filing.
“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. After carefully reviewing all available strategic paths, we have determined that initiating a courtsupervised sale process is the best course of action to maximize the value of the business,” read the release.
The Central Massachusetts Joann locations set to close are:
- 244 Worcester Road in Natick
- 1000 Boston Turnpike in Shrewsbury
- 100 Commercial Road in Leominster
The additional Massachusetts Joann locations set to close below:
- 665 Iyannough Road in Hyannis
- 232A South Main St. in Middleton
- 1360 S Washington St. in North Attleboro
- 1302 Washington St. in Hanover
- 174 Littleton Road in Westford
- 43 Middlesex Turnpike in Burlington
- 199 Boston Road in North Billerica
- 436 Broadway in Methuen
- 1073 Broadway in Saugus
- 96 Providence Hwy. in East Walpole
- 457 Dalton Ave. in Pittsfield
- 454 State Road in North Dartmouth
- 300 New State Hwy. in Raynham
- 85 Highland Ave. in Seekonk
- 433 Center St. in Ludlow
- 367 Russell St. in Hadley
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare and diversity, equity, and inclusion industries.
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