HOOKSETT – JOANN, the fabric and craft store in the Shaw’s plaza will close as the company files for Chapter 11 bankruptcy. Orginally the company announced it would close 530 of its 800 stores nationwide, including all New Hampshire locations except for Hooksett, but later said it could not find a buyer for the remaining stores. .
The company cited rising costs, declining demand, and unpredictable supply chain issues as reasons for the closures. Consumer spending on crafting has also slowed post-pandemic, leading to underperformance at many locations.
In a statement, JoAnn Fabrics acknowledged customer support:
“Your overwhelming demonstration of how much everybody loves JOANN has meant more to us than you know. Although we regrettably will be closing some stores, we are grateful to continue our mission of inspiring creativity in our customers online and in stores across the country.”
A closing date was not announced by deadline.
