Joann Won’t Close All Maine Locations Despite Bankruptcy

2025 hasn't started with a bang with several well-known retailers nationwide. Those would include both Macy's and Kohl's. Both retail giants have started the year by announcing several stores closures across the country.

Both of those companies are only trimming their brick-and-mortar footprint. Meanwhile, there's another major retailer that seems to be headed for the same ending that befell Christmas Tree Shops and Big Lots recently.

Joann Closing Hundreds of Stores Nationwide, Including 3 in Maine

According to CNN, Joann Fabric has filed bankruptcy for a second time in less than a year. In March of 2024, Joann hoped a restructuring of operations and a reimagining of what the company stocked and sold would help reignite sales. It didn't work.

With the second bankruptcy filing, Joann has officially announced it will be closing hundreds of stores across the country in hopes of getting its debt under control.

That will include 3 of the 5 locations that exist in Maine. Joann stores in Auburn, Topsham and Waterville are all on the closing list. Liquidation on inventory and store closing events are likely to begin immediately.

Joann Will Keep Two Stores Open and Active in Maine

While the liquidation of stores will diminish Joann's footprint across the country, the company still plans to keep some of their stores operational, including a pair of them in Maine.

The company announced that their stores in Portland as well as Bangor will remain open as the company restructures. The Portland and Bangor stores were chose strategically based on performance and location.