Joann Bankruptcy: Will Lubbock’s Store Stay Open?

For many Lubbock residents, they have a go-to shop to get their crafting supplies. For those that enjoy sewing, knitting, or other textile-based hobbies, they likely do much of their shopping at Joann.

While they carry a variety of crafting supplies, their walls of fabric and frequent sales are pretty hard to beat.

Unfortunately, the brand has filed for Chapter 11 bankruptcy protection as of March, 2024.

The company was founded in 1943 and has over 800 stores in 49 states. Due to declining sales and a debt of $1 billion, they decided to file for bankruptcy. The question is, will they be closing stores to make up costs?

Fortunately, for employees and customers alike, it looks like they have no current plans to close any of their locations. Which means the Lubbock location off of 82nd and Slide should be secure.

Joann’s stores and websites will continue to run as normal. Scott Sekella, the company’s Chief Financial Officer and co-lead of the Interim Office of the CEO stated that 95% of Joann's stores are cash flow positive.

So, if Joann is your go-to place to get anything from holiday decor, sewing supplies, Cricut makers, and other crafting supplies, you are in luck. My personal favorite quick and easy craft to shop there for supplies are fleece tie blankets.

Even if they did have to close one day, there are still other craft stores in town including Hobby Lobby, Michael’s, Hobby Town, and more.