Jo-Ann Fabrics

[KmartDanny09]

Jo-Ann Fabric and Craft stores will shut down 20 stores this year.

In an effort to continue the company's plan to remodel current stores, build "superstores" (called ETC stores in some markets), and elimanting smaller stores within vicinity of remodeled and superstores, Jo-Ann's will be cutting 20 stores from it's fleet.

Jo-Ann's new direction includes elimanting smaller, "fluff" stores while building superstores, which can average the size of a grocery store. Jo-Ann's will be continuing it's plan to remodel or "refresh" larger "traditional" in markets too small for the superstore concept. Most stores effected will be in the vicinity of a superstore, remodeled store, or larger "traditional" stores. (For example, Jo-Ann's located in small suburb markets within a reasonable distant of another store).

Expiring leases are another reason for the closures.

On the upside, Jo-Ann plans to open over 30 new stores over the year (which is an increase in the original amount). Between 20 and 45 stores will be remodeled, but this number as to be finalized.

Employees will be offered employment at other Jo-Ann stores. The stores affected employ around 12-20 employees.

JO-ANN'S IS HERE TO STAY!

[KmartDanny09]

Today was the last day for the Bowling Green, OH's store closing sale. Oddly enough, it was advertised as a "Store Clearance Sale" and the phrase "Store Closing" was rarely used.

The store closed 5 weeks ahead of schedule. The other store in this district that was being closed, which is unknown at this time, closed 3 weeks ago, or 8 weeks ahead of schedule. The stores started liquidation Black Friday Weekend, with the assistance of Great American Asset Recovery.

As of Wednesday, all merchandise was at 80% off regular prices, with the remaining merchandise occupying the front quarter of the store. Most of the crafts had been sold... much of the merchandise that remained was fabric, buttons, and other odds-n-ends.

As per Jo-Ann Policy, most store fixtures were sold during the sale OR transferred to stores awaiting remodel (although most was not, as this was an older store and many of the fixtures do not fit with the company's current store fixturing plans). No additional sale for fixtures happen under Jo-Ann policy's... any thing remaining will be scrapped or disposed of. The Ben Franklin store has purchased the store's shopping carts and other fixtures.

As I posted earlier, the move to close the 20 stores comes as Jo-Ann Fabrics reevaluates it's store portfolio. Jo-Ann has been moving to close most of it's smaller stores in smaller markets that are within certain distances of stores in bigger markets.

Jo-Ann is not in danger of closing forever. Jo-Anns will be opening 30 stores this year and remodeling dozens more. Jo-Ann's as a company is very heathly.

[NJxxJon]

NJ affected? I just zip coded on the site and it all looks the same.....

[KmartDanny09]

Not sure.

If they were, the stores would have started liquidation already and would in (if not already closed) the final weeks/days.

As I said before, the closures were all smaller market stores. Larger markert and "Superstores" formats aren't affected.

News came from my mom, who is store manager for one of the Toledo, OH stores.

[nims57]

Here are some stores likely to close:

1. Houston, TX (3)

2. East Norriton, PA

3. Wayne, PA

4. Claymont, DE

5. Chambersburg, PA

6. Painted Post, NY