Jo-Ann Fabrics shifts into Chapter 7 liquidation

WILMINGTON, Del. -- A federal judge has approved Jo-Ann Fabrics' request to convert its Chapter 11 bankruptcy to a Chapter 7 liquidation.

[Sandy]

What does this mean?

[Pastafarian]

It means that the stores will be closed, and the inventory will be sold at deep, deep discounts.

Some stores may be able to remain open under reorganization once debt is paid from the closed stores and liquidated inventory.

[Ann]

Sounds like misinformation again. They are most likely referring to Joan's Fabrics. That company first filed last year or earlier this year and all throught the sewing/quilting/craft world, everyone panicked that it was Joann's Fabric and Craft. AKA the store they all love to hate because they might actually not be able to buy everything with a 50% off coupon.

[john blue]

This brief note needs clarifing. Jo-Ann Fabric (stock JAS) is not listed as having a bankruptcy filing but House of Fabric and Piece Goods Shops stores are in bankruptcy and had stores branded as Joann, not related to Jo-Ann Fabrics.

[Danny C]

As an employee of Jo-Ann Fabric & Crafts STORES I can confirm that the STORES are NOT CLOSING and NO GOING-OUT-OF-BUSINESS sales will be conducted..

JAS has not filed for ANY bankrupcty-- chapter 11 or otherwise. The company that the Indie has us confused with is a company that MANUFACTURES fabric supplies..

There is NO relation to the two companies....Jo-Ann Fabric & Crafts stores are still operating as normal...in fact, JAS is having it's best year sales-wise ever!@

Thanks and peace!
-Danny C

[Deniser]

It's not the fabric and craft chair store. The newspaper that published the article has the name spelled wrong. It is in fact "Joan" Fabrics - an upholstery company that's been around since 1932 - Case No. 07-10479 of the U.S. Bankruptcy Court. Bankruptcy filed in April - changed from Chapter 11 to 7 last week.

[TJ Swing]

The closings have officially begun!!

[Susie Feathers]

Danny C wrote:

As an employee of Jo-Ann Fabric & Crafts STORES I can confirm that the STORES are NOT CLOSING and NO GOING-OUT-OF-BUSINESS sales will be conducted..
JAS has not filed for ANY bankrupcty-- chapter 11 or otherwise. The company that the Indie has us confused with is a company that MANUFACTURES fabric supplies..
There is NO relation to the two companies....Jo-Ann Fabric & Crafts stores are still operating as normal...in fact, JAS is having it's best year sales-wise ever!@
Thanks and peace!
-Danny C

Sioux City Iowa
Our JoAnn's store just closed, and our Hancock Fabrics closed last summer. That leaves us with two quilt shops and three Walmarts. Jan. 20 2008

[Dee]

I received a flyer maybe a month ago that one of our Jo-Ann stores at Transportation Blvd. will be closing.(Cleveland, OH)

[Houston TX]

I received a flyer yesterday that one of our Jo-Ann fabric and craft stores is "closing soon." Liquidation Sale at 9944 Kleckly Dr in the Almeda Shopping Center.(Houston, TX)

[Laurel MD]

I received a flyer today from JoAnn Fabric and Craft Store announcing store closure and Liquidation Sale at Maryland City Plaza 3415 Fort Meade Rd Laurel, MD 20724

[Ventura CA]

Our Joann's is closing as well.. the store has basically nothing left. are any of them staying open??? where do we get yarn!?!??!?!

[Mary]

JoAnn's in Oneida NY is closing--9 days left!!
Sorry Danny!

[2 years and done]

Whats happening is they are only closing the smaller stores the more super stores are staying open.Matter of fact they just opened a new super store in Memphis,TN and one in Louisville,KY.Some stores may close but only to be moved to a new and better location.Most are due to area business's closing like malls.

[Ana]

The Jo-Anns in Oak Lawn, Il closed as well! No warning, no nothing!

[Cktall]

Susie Feathers wrote:

<quoted text>Sioux City Iowa
Our JoAnn's store just closed, and our Hancock Fabrics closed last summer. That leaves us with two quilt shops and three Walmarts. Jan. 20 2008

Our Walmarts no longer carry fabric and our JoAnn store did close over 10 months ago. Our Hancock closed a year or 2 before JoAnn. Very sad I am - there are craft outlets but none with nicer fabrics

[Vicky]

The Jo-Ann Fabrics in Lakewood, CA is closing next month, but they are being forced out by the Mall. They want to make room Nordstrum's Rack and to expand another store.

[keef]

Susie Feathers wrote:

<quoted text>Sioux City Iowa
Our JoAnn's store just closed, and our Hancock Fabrics closed last summer. That leaves us with two quilt shops and three Walmarts. Jan. 20 2008

just because the joann's fabric store closed near you doesn't mean its going out of business. it most likely wasn't a profitable store so JAS closed it to protect themselves

[Andria]

I received a flyer today notifying me of a Jo Ann store closing in Northtown Plaza on I 45 in Houston.

[Donna]

Joanns will close small stores and reopen larger super stores in a near by area, we have nearly 1000 stores all over the united states and the older or not as profitable store get closed to make room for bigger and better, so relax everyone the company is very strong and should be around for a while longer.