Joann Fabrics
Leonard Green's $1.6B leveraged buyout in 2011 loaded Joann with debt it could never repay. Filed bankruptcy in March 2024, emerged briefly, then filed again in January 2025 and liquidated all 800+ stores. ~19,000 employees lost their jobs.
- FOUNDED
- 1943
- ACQUIRED
- Leonard Green & Partners, 2011, $1.6 billion
- IMPACTS
- 1 documented
Editorial Record
maintained by DeathbyPE. Every claim links to a public source.Timeline
Joann Fabrics founded
Acquired by Leonard Green & Partners for $1.6 billion
Joann Fabrics liquidated all 800+ stores after two bankruptcies under Leonard Green
CriticalClosure / BankruptcyLeonard Green's 2011 LBO loaded Joann with $1.6B in debt. Filed Chapter 11 in March 2024, emerged briefly, then filed again in January 2025. All 800+ stores liquidated. ~19,000 employees lost their jobs. Leonard Green had already extracted significant returns through dividends and fees before the collapse.
Joann Inc. Files for Bankruptcy Again, Plans Liquidation
Before / After
Stores
reported 2025
before 800+ stores
after 0 (liquidated)
-100%
Community Reviews
Share your experience →Firsthand accounts from email-verified contributors. Community reviews are separate from the editorial record above and are not independently fact-checked.
Tracked Locations
AZ · 1
549 Main St
Phoenix, AZ 85001 · 555-616-2310
CA · 2
4816 Main St
San Diego, CA 92101 · 555-908-5034
8838 Main St
San Diego, CA 92101 · 555-595-3676
IN · 1
9097 Main St
Indianapolis, IN 46201 · 555-206-7418
NC · 1
642 Main St
Raleigh, NC 27601 · 555-235-8059
NY · 1
679 Main St
New York, NY 10001 · 555-893-2844
OR · 1
3175 Main St
Portland, OR 97201 · 555-614-1747
TN · 1
573 Main St
Nashville, TN 37201 · 555-114-9269
TX · 1
6930 Main St
Dallas, TX 75201 · 555-651-3816