Fabric and craft retailer Joann to go out of business, close all of its stores

Re:Fabric and craft retailer Joann to go out of business, cl... by s1artibartfast on Tuesday February 25, 2025 @11:33AM (#43174030)

One of the reasons cited in their bankruptcy is that they weren't able to keep yarn and hobby materials in stock, diminishing their utility as a one stop physical stock for hobbyists.

My wife was bummed when I told her about it, but I also recall going several times where they were stocked out of many items, so I kind of get it. Hard to justify a 30/60 minute trip if there is a good chance you wind up empty handeded

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Re:Fabric and craft retailer Joann to go out of business, cl... by jordanb on Tuesday February 25, 2025 @11:49AM (#43174277)

Joann was owned (and killed) by private equity.

Going on a rampage against in-store inventory is a classic PE retail move.

In-store inventory is expensive, subject to shrinkage, etc. So by the spreadsheet, less inventory looks good. But of course, if it's not in-stock when your customer shows up, that's a wasted trip. Only has to happen a few times before your customers quit showing up altogether.

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