Jo-Ann Stores

Jo-Ann Stores: A Retail Journey Through Time and Turmoil

Imagine stepping into a fabric store that has been weaving its way through American history since 1943. That’s the story of Jo-Ann Stores, LLC, an American retail company that has seen it all. Founded by German immigrants in Cleveland, Ohio, this store has evolved from a small shop to a nationwide chain with over 865 stores spread across 49 states as of March 2020.

But the journey hasn’t been without its challenges. In 1994, Jo-Ann made its first acquisition and changed its name to Jo-Ann Stores Inc., marking a significant milestone in its growth story. Fast forward to 2015, when Jill Soltau became president and CEO, bringing new energy to the company. However, by 2018, she left under somewhat uncertain circumstances.

From Fabric Shops to E-commerce

In a world where online shopping is king, Jo-Ann has had its fair share of ups and downs. Prior to the COVID-19 pandemic, the company was struggling with significant losses, but by 2020, it managed to turn things around, making over $210 million in profits and gaining millions of new customers.

But the pandemic brought a whole new set of challenges. In March 2021, Jo-Ann announced plans for an e-commerce facility in West Jefferson, Ohio, aiming to bridge the gap between physical stores and online shopping. However, amidst health concerns, the company faced public criticism for keeping many of its stores open.

A Public Company’s Journey

In March 2021, Jo-Ann went public on the Nasdaq market under the ticker symbol ‘JOAN,’ marking a new chapter in its history. But this journey was far from smooth. By September 2023, the company announced it would be laying off a portion of its workforce, and by October 2023, Fitch Ratings and CreditRiskMonitor reported that Jo-Ann was nearing a potential Chapter 11 bankruptcy filing.

On March 18, 2024, Joann officially filed for Chapter 11 bankruptcy protection. Nasdaq halted the trading of its stock on April 9, 2024, and by April 25, 2024, a federal judge approved Joann’s bankruptcy reorganization plan.

Despite these setbacks, Jo-Ann has shown resilience. On January 15, 2025, the company filed for Chapter 11 bankruptcy protection once again, marking its second time in less than a year.

Condensed Infos to Jo-Ann Stores

Jo-Ann’s journey is a testament to the challenges faced by retail companies in an ever-evolving market. From its humble beginnings as a fabric shop to its current struggles, this company has seen it all. As we look towards the future, one thing remains clear: Jo-Ann will continue to adapt and evolve, much like the fabrics they sell.