Could a Joann fabric, craft store be closing near you? The national retail chain is declaring bankruptcy for the second time in a year. What we know

Arts and crafts retailer Joann is declaring bankruptcy for the second time in less than a year, officials said. Joann filed for Chapter 11 bankruptcy in a Delaware court, the company said in a news release on Wednesday,

The company currently operates 21 stores in Minnesota, including a handful of Twin Cities locations, Duluth, Rochester, and relatively smaller communities like Hibbing, Bemidji, Brainerd, and Fairbault, where craft store supply options are already limited.

This is the second time Joann has declared bankruptcy in less than 12 months. In April 2024, the company completed a restructuring that saw it delisted from the U.S. stock exchange and become a private company as part of a bankruptcy deal.

Joann, a fabric and craft retailer, announced it filed for bankruptcy for the second time within a year due to financial and inventory issues.

The craft supplies and fabric retailer Joann filed for bankruptcy for the second time in less than a year, as the chain wrestles with declining sales and inventory shortages, the company said Wednesday.

Joann filed for bankruptcy, its second in less than a year as the company looks to maximize the value of its business.