Joann Fabric and Crafts files for second bankruptcy

WILMINGTON, NC (WWAY) — Joann, the fabrics and crafts store, has filed for bankruptcy for a second time within a year. 

The 82-year-old retailer announced Wednesday that sluggish sales and inventory issues have forced it to file for chapter 11 once again.  

Joann first filed for bankruptcy in March 2024, and emerged a month later as a private company, keeping all its stores open. 

Joann is now seeking to sell most of its assets.  

Gordon Brothers Retail Partners—which recently bought much of Big Lots—has already emerged as a potential buyer and made an initial bid. 

Joann’s stores and website remains open for now.  

There is a location at the University Centre in Wilmington.