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Sew long, Joann: Bankruptcy to shutter fabric and craft retailer’s NM stores
Joann Fabric and Crafts, located at 10131 Coors NW. The store is one of more than 800 that will close after the craft company filed twice for bankruptcy.
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Crafters and quilters who purchase fabric and materials from Joann Fabrics and Crafts will have to start shopping for supplies elsewhere.
Joann is going out of business and closing all stores after filing for Chapter 11 bankruptcy twice — once in March 2024 and again in January. The bankruptcy will shutter Joann’s five New Mexico locations in Albuquerque, Santa Fe, Las Cruces and Farmington.
In early February, the store announced it would close roughly 500 of its 800 stores across the country, including locations in Las Cruces and Santa Fe. The store planned to keep Farmington and Albuquerque locations — among others nationwide — open. But after an auction over the weekend, the company announced it would begin liquidating all locations nationwide.
Financial company GA Group is set to acquire all of Joann’s assets, the company announced Sunday. A Joann spokesperson said it plans to begin winding down the crafts company’s operations and holding store closure sales at all locations.
Local store closings will take weeks as final sales are completed, the spokesperson said. The store’s website and mobile app will continue to operate amid liquidation.
