Popular fabric chain closing all stores, including in Raleigh, Durham & Cary. Details
It’s bad news for Joann shoppers in the Triangle.
The popular fabric chain, which has served customers for more than 80 years, is changing course and closing all of its stores.
The company announced earlier in February it would close hundreds of locations across the United States. Six North Carolina stores were included in the initial group of stores to be shuttered, but the Triangle stores were spared.
That’s no longer the case. Here’s what we know.
Are Joann’s Triangle stores closing?
Amid Chapter 11 bankruptcy proceedings, the company was involved in an auction.
Subject to bankruptcy court approval of the sale of substantially all of Joann’s assets, the winning bidders (GA Group and Joann’s term lenders) plan to hold going-out-of-business sales at all stores, Joann wrote in a statement.
That means the stores in Raleigh (4412 Falls of Neuse Road), Cary (2420 Walnut Street) and Durham (4600 Chapel Hill Blvd.) will not be saved.
“Joann leadership, our board, advisors and legal partners made every possible effort to pursue a more favorable outcome that would keep the company in business,” the company said in the statement. “We are committed to working constructively with the winning bidder to ensure an orderly wind-down of operations that minimizes the impact on all our stakeholders.”
No timeline on individual store closings has been announced.
Which other NC stores will close?
The Triangle stores join the six North Carolina locations that were among hundreds previously identified as those that would close. Those North Carolina locations were:
- Asheville
- Hendersonville
- Goldsboro
- Morganton
- Mooresville
- Rocky Mount
Elsewhere in North Carolina, Joann has stores in Wilmington, Charlotte, Monroe, Winston-Salem and Fayetteville.
Where to purchase fabric
Joann may be closing its stores, but Triangle shoppers have several other choices to find fabrics.
- Hobby Lobby has multiple locations, including in Raleigh and Cary.
- There are several Michaels stores in the Triangle, namely in Raleigh, Durham and Cary.
- The Triangle is also home to several independent fabric stores, such as Craft Habit and Mill Outlet Village.
Bankruptcy of Joann and other large retailers
Joann filed for Chapter 11 bankruptcy protection Jan. 15.
Reasons for the decision, Joann’s interim CEO Michael Prendergast said in a news release, included “significant and lasting challenges in the retail environment” coupled with the company’s “current financial position and constrained inventory levels.”
That followed a previous Chapter 11 filing in March 2024.
This is the latest big-box store to enter bankruptcy proceedings, joining Big Lots and Party City.
In a statement announcing its Chapter 11 filing, Big Lots cited high inflation and interest rates, which encouraged its customers to pull back on spending, especially on the products that make up a large portion of Big Lots’ revenue.
Party City mentioned the same factors — “inflationary pressures on costs and consumer spending” — in its news release announcing the Chapter 11 filing.
This story was originally published February 24, 2025 at 5:18 PM with the headline "Popular fabric chain closing all stores, including in Raleigh, Durham & Cary. Details."
