Feb. 24, 2025

All Joann stores will begin going-out-of-business sales once a bankruptcy court approves the sale of the company’s assets to a liquidator.

Joann Inc., which filed for bankruptcy in January, held an auction Friday and into Saturday for substantially all the crafts and fabric retailer’s assets.

The winning bidders, GA Group and the pre-petition term loan agent, plan to bring an end to the company’s operations, Joann said.

“We are committed to working constructively with the winning bidder to ensure an orderly wind down of operations that minimizes the negative impact on all Joann team members, vendors, customers and communities,” the company said in a statement. “Subject to court approval of the sale transaction, we expect to begin, or in some cases continue, going-out-of-business sales at all locations immediately.”

The court hearing to approve the sale is set for Wednesday in Delaware.

Earlier this month, Ohio-based Joann received permission from the bankruptcy judge to begin closing 500 of its 800 stores to make the business more appealing to potential bidders. That included the store in Brookings, which began its closing sale Feb. 15.

“We expect it will take a number of weeks to complete our final sales,” the company said. Joann’s website and mobile app also will have sale merchandise. Gift cards will be accepted through Friday, according to information on the company’s restructuring website. 

In South Dakota, Joann also has stores in Sioux Falls at 2725 W. 41st St. and in Rapid City.