Joann Fabrics, a well-established craft and fabric chain, is closing around 500 stores nationwide. This decision stems from their Chapter 11 bankruptcy filing, aimed at streamlining operations and focusing on more profitable locations. While the closures affect multiple states, the company assures employees that they will maintain pay and benefits during the transition. Joann’s presence will continue across 49 states, though the shift marks a significant adjustment to its retail strategy.
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