Bankrupt Joann Fabric to Close All Maine Locations

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. Joann has been mired in a weeks-long bankruptcy filing that has finally come to a conclusion. That conclusion is an end to the Joann store footprint.

Joann Closing All of Their Locations Nationwide, Including 5 in Maine

According to CNN, Joann Fabric 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 initially was closing to trim their stores substantially and continuing operating only the locations that were the most profitable. Instead, all Joann stores nationwide will close as part of their new bankruptcy settlement.

That will include all 5 locations that exist in Maine. Joann stores in Auburn, Topsham and Waterville were on the initial closing list. They're joined by the Portland and Bangor stores now. Liquidation on inventory and store closing events will begin immediately.

Joann is the Latest Major Retailer to Crumble

Joann's rather sudden demise might not be the only major retail chain to fall apart in 2025. Kohl's has laid out a strategic plan to close underperforming stores in hopes of turning around a lagging bottom line.

JC Penney has also closed some locations across the country, including one in Maine, as the band looks to turn around what has been a bleak string of years for profitability.