Joann Fabric Files for Bankruptcy; Will NJ & PA Stores Shut Down?

Ugh. Another nationwide retailer is in financial trouble, according to The Patch.

Joann Fabric has declared Chapter 11 Bankruptcy

Joann Fabric, with 850 stores across the country, has declared bankruptcy. The chain has been around for over 80 years.

I have memories of my grandmother and my mom bringing me to Joann's when I was a little girl to pick out yarn so my grandmother could knit clothes for my Barbie doll and knit me a afghan for my mom...she did this for all of her grandchildren.

I still visit Joann Fabric today for seasonal decorations for my home.

The reason for the bankruptcy filing is not a new one these days. The pandemic and a shift in the way people shop nowadays is to blame, the article states.

What does this news mean for stores in New Jersey and Pennsylvania?

Nothing...yet.

All stores are staying open during the bankruptcy process.

There are 11 Joann Fabric locations in New Jersey

There are 11 Joann Fabric locations, including one in Mercer County.

They are:

Lawrence Township - Mercer Mall on Route 1 South

Cherry Hill - West Marlton Pike

Paramus - 30 A&S Drive

Colonia - Route 27

Riverdale - Route 23

Deptford - Hurffville Road

Shrewsbury - Broad Street

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Succasunna - Route 10E

Mays Landing - Festival at Hamilton

Toms River - Hooper Avenue

Mount Laurel - Centerton Road

There are 40 Joann Fabric locations in Pennsylvania

In Pennsylvania, there are 40 Joann Fabric locations.

In Bucks County  there are stores in:

Fairless Hills

Quakertown

There's also one in Warrington. For a complete list of the Pennsylvania locations, click here.

Once again, all stores will be staying open at this time.

The company says it has received new funding to pay down its debt.

If anything changes, I'll let you know.