Jo Ann Fabrics to close all stores

or however that dang word is written! : ) Use this forum to discuss those things that are related to, directly, or indirectly, fly fishing, i.e., tackle, catalogs, single malt scotch, cigar preferences, pipes, camera gear, etc. This is sort of an off topic area but one related to bamboo and fly fishing.

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Brian K. Shaffer
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Jo Ann Fabrics to close all stores

#1

Post by Brian K. Shaffer »

All stores will be closed by Jan 22nd 2023.
" There's no such thing as a fly fisherman wholly satisfied with his casting performance. " ~ Jim Green (1971)
" Just once I wish a trout would wink at me. " ~ Brian Shaffer

Pick up trash at your home waters - and beyond.

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kevinhaney1
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Re: Jo Ann Fabrics to close all stores

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Post by kevinhaney1 »

Actually, only a few of the stores are closing. You can Google it and find the article.
Kevin Haney, Vintage Anglers
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SpringCreek
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Re: Jo Ann Fabrics to close all stores

#3

Post by SpringCreek »

At this point I believe it is only select stores, not all. JoAnn is struggling for sure and may well file for bankruptcy at some point. Any liquidation of a company would require a bankruptcy filing, which I don't believe has actually happened. (At least yet).

The retail industry has some challenges ahead, the surge in business during COVID for some retailers (i.e. JoAnn) has tapered and many are now faced with some serious challenges. Declining sales with increasing supply chain costs is not a recipe for success. Bed Bath and Beyond, Wayfair, and others are at some pretty significant risk. I feel for those that work for these companies. I suspect that at a minimum there will be a lot of people losing jobs, and worst case everyone will. I worked for a retailer that went through bankruptcy, it isn't something I wish on anyone.

JIm
Then as it was, then again it will be. Though the course may change sometimes, rivers always reach the sea. - Led Zeppelin, 10 Years Gone

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