If anyone in North America is into scrapbooking, sewing, or other arts and crafts activities, they have probably been to JOANN, a store famous for its artsy commodities, from acrylic paints to model kits and everything in between.
Soon, JOANN will be closing permanently. On Feb. 23, JOANN announced its decision to commence the closing of eight hundred physical stores, including the ones in Roseville.
“Subject to court approval of the sale transaction, we expect to begin, or in some cases continue, going-out-of-business sales at all locations immediately,” a spokesperson for JOANN said in an announcement online.
A major reason JOANN is failing is because of its chief competitor, Michaels. According to Neil Saunders, a retail analyst, Michaels got a leg up on the competition during the COVID-19 pandemic, while JOANN suffered from a slump in business. This slump continued up until its buyout by the GA Group and the Prepetition Term Loan Agent.
All forty-nine states JOANN has stores in will be hit hard, including California. For example, the Roseville location at 5811 Five Star Boulevard will be closing soon.
With the closing of JOANN coming fast, customers are encouraged to enjoy the open stores while they are still in business.
“Customers will have the opportunity to purchase our assortment at special prices during the going-out-of-business sales and can continue to shop at JOANN stores, JOANN.com, or on the JOANN mobile app,” the announcement continued.
It looks like the crafters of Roseville will have to find another craft store to get their supplies.