JoAnn Fabric, which has 22 locations in Massachusetts, has filed for bankruptcy. The 81 year-old fabric chain's business has been on a steady decline for years now. Jo-Ann saw a brief surge in sales during the early days of COVID due to people staying at home, but that was short lasting.

JoAnn Fabric files for Bankruptcy, all 22 stores in Massachusetts will remain open for now...

JoAnn has 850 stores nationwide.

In a statement Monday, the Ohio-based company said it filed for Chapter 11 bankruptcy protection and has secured $132 million in fresh funding that helps reduce its debt in half, which had ballooned to $1 billion. Its roughly 850 stores and website will remain open for business. -cnn

 

Social Media is reacting to the news of Jo-Ann on Monday...

Oooono Women!
What r u going to do!?
Jo-Ann Fabric is filing Bankruptcy! -Random on Facebook

Jo-Ann Fabrics is on the edge of bankruptcy, the last national fabric chain. Independent stores died off long ago. I guess that leaves internet stores? -Random on Facebook

JOANN helps people find handmade happiness. We have the best selection of fabrics, sewing supplies, yarn, home decor & more. However you like to create, you’ll find everything you need right here. Contact us at customer.service@joann.com with questions! -JoAnn Fabric on Facebook.

'Family Dollar Closing a 1000 stores' news story broke last week...

Who doesn't love a good dollar store? They can be a little messy, but they're undeniably popular here in the U.S.

As families continue to struggle with inflation, as many goods as possible on the cheap is an option.

Dollar Tree who owns Family Dollar says it will be closing 370 more locations this year, according to foxbusiness.com.

Popular MA Discount Store Closing Locations

Massachusetts Has 55 Locations of 'Family Dollar'

• Amesbury
• Ashland
• Attleboro
• Ayer
• Belchertown
• Bellingham
• Boston
• Brockton
• Chelsea
• Chicopee
• Clinton
• Danvers
• Dedham
• Dorchester
• Dracut
• Dudley
• East Boston
• East Hampton
• Everett
• Fairhaven
• Fall River
• Fitchburg
• Gardner
• Haverhill
• Holbrook
• Holyoke
• Lawrence
• Leominster
• Lowell
• Lynn
• Methuen
• Middleborough
• New Bedford
• Pittsfield
• Plainville
• Rockland
• Salem
• Somerset
• Southbridge
• Southwick
• Spencer
• Springfield
• Stoughton
• Taunton
• Townsend
• Turners Falls
• Waltham
• Webster
• West Bridgewater
• Westfield
• Whitman
• Winchendon
• Woburn
• Worcester

There is no word on which Massachusetts stores would be affected by the closures of Family Dollar. The company announced late last year that they would be closing 600 stores during the first half of 2024. So, with the announcing of 370 additional stores closing, that would bring the total to nearly 1000 stores.

Dollar Tree who bought Family Dollar in 2015 cited poor earnings as the reason for the closures...

Dollar Tree CEO Rick Dreiling said during an earnings call in December that its Family Dollar stores had softer same-store sales due to unexpected costs from a recall of various over-the-counter drugs and medical devices in nearly two dozen states last fall.

The most popular items sold at Family Dollar

• Cleaning supplies
• Toiletries
• Snacks and beverages
• Canned foods
• Health and wellness products
• Household goods
• Kitchen supplies
• School and office supplies