The area’s two Joann Fabric and Crafts stores are among those slated for closure, according to the Hudson, Ohio–based company’s latest bankruptcy filing. Longtime stores in the Oak Valley and Valley View shopping centers (both anchored by Target) are among the thirty-three headed for closure statewide.
It’s Joann’s second bankruptcy in less than a year. Though the first shed much of its debt, suppliers were wary of providing inventory, so sales were weaker than hoped. Nationwide, 533 of its approximately 850 stores are on the chopping block.
A Delaware bankruptcy court approved the closure plans on February 14, clearing the way for liquidation on an “all sales are final” basis. The company is seeking bids for its remaining assets; if none emerges, stalking-horse bidder Gordon Brothers Retail Partners will liquidate them and close the remaining stores. For now, at least, stores in Livonia and White Lake remain open.
At Oak Valley, which opened in 1990 as one of the chain’s first one hundred stores, a manager politely declined to provide details on the sales, the timeline, or the number of employees affected, citing corporate policy: “Even though we are losing our jobs, we will be in even more trouble, so no.”
Joann Fabric and Crafts, 3737 Carpenter, (734) 975–0310. 2897 Oak Valley, (734) 665–6161. Mon.–Sat. 9 a.m.–9 p.m., Sun. 10 a.m.–6 p.m. joann.com
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