craftymom101
Pearl Clutcher
Posts: 3,798
Jul 31, 2014 5:23:25 GMT
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Post by craftymom101 on Mar 18, 2024 12:50:18 GMT
I know most of us are not surprised by this, but Joann filed for Chapter 11 Bankruptcy. My understanding of Chapter 11 Bankruptcy is that the focus is on reorganization, not forgiving all debt and closing the stores. Is that correct? It sounds like all Joann stores will remain open (for now).
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Post by mom on Mar 18, 2024 13:08:50 GMT
I know most of us are not surprised by this, but Joann filed for Chapter 11 Bankruptcy. My understanding of Chapter 11 Bankruptcy is that the focus is on reorganization, not forgiving all debt and closing the stores. Is that correct? It sounds like all Joann stores will remain open (for now). You are right. They want to focus on the reorganization. I was in my Joanns over the weekend and my store (which still had Tim Holtz Christmas stuff on display) is finally updating their stamping and ink section. Lots of new Hero Arts stuff. Fingers crossed this is a sign of good things to come.
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Post by lanena on Mar 18, 2024 13:10:22 GMT
Yes, that is correct. Here's a link to the definition: Chapter 11 BankruptcyI hope they can overcome their challenges. When I was a girl, my family had little money, and I loved clothes--so I bought my fabrics from Joann. I think it was called SoFro Fabrics in California. Fabric used to be my obsession back then, much like paper is now. Joann and Michaels are my only choices for brick-and-mortar scrapbook shopping since we have no local SB stores left.
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breetheflea
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Location: PNW
Jul 20, 2014 21:57:23 GMT
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Post by breetheflea on Mar 18, 2024 13:24:56 GMT
The one closest to my house is tiny, and mostly has fabric and yarn. They recently put in a button which announces "a cashier will be with you shortly," so they can only have one person working in the store at a time. If it wasn't for their coupons, and not wanting to drive to the farther away store, I'd never go in there.
I hope their restructuring means they get some scrapbooking stuff in the smaller store, the half an aisle is depressing.
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Post by BSnyder on Mar 18, 2024 13:59:28 GMT
I was so surprised when I learned this was on the horizon. My local JoAnn is busy all the time.
The biggest problem is that they cannot seem to hire and/or keep enough staff. The wait for fabric cutting and checking out is long. You can’t just go in, grab something, and get out. Often times the checkout line is backed up halfway or more through the store, with only one or two cashiers. I have left stuff behind because I didn’t have time to wait in line.
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Post by hoopsfn on Mar 18, 2024 15:04:19 GMT
Our JoAnn's is small and never has the newer stuff. It relocated within the last year or so and seems to have less sb-ing items than before. There is a larger JoAnn's several miles away and it always looks busy and has the AC designer (Vicki Boutin, Paige Evans, Heidi Swapp...) sb products which our smaller one does not. I hope the re-organization keeps them open and current. Thanks for posting this craftymom101.
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Shakti
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Troubled, complicated, and constant
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Oct 30, 2022 23:42:30 GMT
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Post by Shakti on Mar 18, 2024 15:26:17 GMT
Order online pick up in store is your friend @bsnyder. They even have special coupons for those orders.
Of course, unlike Michael's, you still need to find a human.
IME, it's not the size of the store that dictates the selection of items. I don't know if it's management preference or what, but the stores near me seem to "specialize" in different areas. One has the most paper, another the most stamps and inks, a third not much papercrafting at all.
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Post by joblackford on Mar 18, 2024 15:51:24 GMT
I was so surprised when I learned this was on the horizon. My local JoAnn is busy all the time. The biggest problem is that they cannot seem to hire and/or keep enough staff. The wait for fabric cutting and checking out is long. You can’t just go in, grab something, and get out. Often times the checkout line is backed up halfway or more through the store, with only one or two cashiers. I have left stuff behind because I didn’t have time to wait in line. I learned on social media that Joann's was bought out by a private equity firm a number of years ago when they were struggling, and their priority was to "mine" the company for any remaining value and pile on debt. I can't get my head around the process but I read that the same thing has driven most small town newspapers out of business, even if they were keeping their heads above water in a changing market. Joann had been struggling, for sure, but this company probably never wanted them to succeed as a store. From the blurb of a book about private equity firms "many private equity firms buy up retailers, medical practices, prison services, nursing-home chains, and mobile-home parks, among other businesses, using little of their own money to do it and avoiding debt and liability for their actions. Forced to take on huge debts and pay extractive fees, companies purchased by private equity firms are often left bankrupt, or shells of their former selves, with consequences to communities that long depended on them."
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jediannie
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Posts: 3,091
Jun 30, 2014 3:19:06 GMT
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Post by jediannie on Mar 18, 2024 16:11:54 GMT
Private equity is the worst. I follow someone on Instagram that talks a lot about private equity (along with all kinds of other stuff), I think she's on TikTok too. Meredith Lynch
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Post by papersilly on Mar 18, 2024 16:52:20 GMT
we have one of those giant Joann stores that was nicely remodeled not too long ago. there is a hobby lobby across the street and i think that has affected foot traffic at the joann store. it's rarely busy, the SB is a mess and hasn't been restocked lately, and their holiday items die a slow painful death on the way to being clearanced out 3 months later. no one can come close to the fabric selection in the store and i think that's what keeps it afloat.
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Deleted
Posts: 0
Nov 24, 2024 14:54:11 GMT
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Post by Deleted on Mar 18, 2024 18:10:01 GMT
The JoAnn near me is dimly lit and depressing. That said, I’m still grateful it’s there when I want something and they have it because I can order online for pickup with a coupon.
There’s one in a nearby city that has a variety of planner supplies and carries mostly AC scrapbook lines. I prefer going there even though it’s less convenient because I’m not struggling to see while I’m shopping.
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Post by ScrapbookMyLife on Mar 18, 2024 19:10:15 GMT
My Joann store, has had some of the same scrapbook stuff for years and years(especially the 12 x 12 paper pads). Rarely get anything new.
My thoughts are >> At some point in time along the way, it seems like they changed merchandise buyers. They went from having quality name brand scrapbooking supplies to same old merchandise and not carrying or carrying very little...of name brand scrapbook lines. Michaels has done the same thing. Michaels got rid of name brand scrapbook merchandise and replaced it with their own recollections line (the majority of which is not appealing to long time, experienced, in the know about the latest products, etc... type of scrapbookers).
I remember when Joann had Basic Grey, a big selection of K&Co, a frequent turnover of products. They also used to have some cute home decor items, including smaller furniture items (like benches, small tables, small wooden bookcase, etc...).
The whole change of inventory, lack of cashiers, dim lighting, the elimination of quality and specialized merchandise buyers, etc... reeks of corporate greed. Output the least amount of money-expenditures as possible to stock and maintain the store, while we fill our corporate pockets for as long as we can...until we run the company into the ground.
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FurryP
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Jun 26, 2014 19:58:26 GMT
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Post by FurryP on Mar 18, 2024 23:44:01 GMT
Does anyone else NOT like to buy online and pickup in store? I will not do it even for the extra % off they sometimes have. If the item is in the store I want to pick it myself. I don't necessarily want what is on top of the pile, I don't want a smashed box, paper that everyone touiched and then picked from the bottom, I don't want anything dog-eared even if you can barely notice it. Um, NO. I want to pick my own stuff. Online is usually a little bit different because the public in general is not touching it. ETA: I guess somethings would not make a difference, like a hard sturdy plastic pkg, but still, I am not driving all they way down to the store for a few items like that.
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Shakti
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Posts: 3,246
Oct 30, 2022 23:42:30 GMT
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Post by Shakti on Mar 19, 2024 0:13:18 GMT
At the one I used to work near, which has a lot of stamps, dies, and inks, those were the things I most often bought online/picked up in store. Also storage containers, adhesives. I agree that open stock papers, you want to choose yourself.
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Post by artisticscrapper on Mar 19, 2024 2:03:22 GMT
The one closest to me has no papercrafting stuff. They have some maker items like paint your birdhouse and cookie cutters. And of course they have fabric and yarn.
The next nearest is about 15 minutes further but has paper, ink, dies, etc. They carry AC paper single sheets. Also a few Hero Arts and Spellbinders dies. If they had more choices and popular products I’d go more often. Maybe they could market embellishments and paper pads under their name (or a similar name) like Hobby Lobby does.
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PaperAngel
Prolific Pea
Posts: 8,003
Jun 27, 2014 23:04:06 GMT
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Post by PaperAngel on Mar 19, 2024 4:54:33 GMT
TFS, although it's sad news for the industry.
JoAnn was purchased by a private equity firm in 2011 that continued to control the company after its IPO (initial public offering) in 2021. Despite living in the largest city in the state (& 14th largest in the country), my JoAnn stores are fabric-focused with only a couple papercrafting aisles (& the paper racks at one location are covered in plastic when it rains because its roof leaks). The closest JoAnn that is a designer destination is a 3-hr commute (one way), & I dislike American Crafts pattern paper brands anyway, so I rarely shop at JoAnn. For example, my last purchase was neutral cardstock during a 10/$2 sale in May 2021!
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Post by lisae on Mar 19, 2024 11:09:28 GMT
The store in my area was originally The Piece Goods Shop. Service was poor but it has gotten better in recent years though they usually only have one or two employees working. I seldom go on the weekend so maybe they have more staff then.
I appreciate that they are there but admit that I buy very little from them. I shop at local quilt shops for my quilt fabric. The selection and definitely the quality are better.
JoAnn and Hobby Lobby are the only all purpose fabric stores left here.
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Post by katlady on Mar 20, 2024 2:05:57 GMT
There is a new-ish JoAnn not too far from me. It has only been open a couple of years. It is huge inside, there is even a big area for in-person workshops. One time I went there was some kind of Girl Scout craft event going on. I was impressed how big their art section and scrapbooking area was. The other older JoAnn near me is small and doesn't carry a lot of merchandise. Because of the size, the fabric area in the newer JoAnn is maybe 1/4 of the store, while in the older store it is easily 1/2 of the store. But, even though it is big and new, I still don't go there often. Does anyone else NOT like to buy online and pickup in store? I will not do it even for the extra % off they sometimes have. I've only done it twice. Once was when something had a big discount if you ordered it online for in-store pickup, and the other time was when there was only 1 left in stock and I couldn't make it down to the store for a few hours. But other than those two times, I am an in-person shopper, especially for groceries.
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Post by quinlove on Mar 20, 2024 16:46:10 GMT
Does anyone else NOT like to buy online and pickup in store? I will not do it even for the extra % off they sometimes have. If the item is in the store I want to pick it myself. I don't necessarily want what is on top of the pile, I don't want a smashed box, paper that everyone touiched and then picked from the bottom, I don't want anything dog-eared even if you can barely notice it. Um, NO. I want to pick my own stuff. Online is usually a little bit different because the public in general is not touching it. ETA: I guess somethings would not make a difference, like a hard sturdy plastic pkg, but still, I am not driving all they way down to the store for a few items like that. Me ! I’m rather picky about my beloved paper being dented. I line up all the bar codes, so the cashier doesn’t have to handle it too much. My Joann’s is 25 miles away. It is big and well stocked. I mainly buy pretty paper and ephemera.
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pantsonfire
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Jun 19, 2022 16:48:04 GMT
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Post by pantsonfire on Mar 20, 2024 18:10:24 GMT
My BIL's boss used to own JoAnn's (and a sport store and still owns other stuff). He sold when crafting took a nose dive and the economy as well. I miss the discounts I would get LOL
Anyways, my JoAnn's is quite large but VERY dirty. I hardly shop there. And while there are employees, there is always just 1 checker with a bad attitude and a long line. And they take FOREVER to check you out.
I hope the restructuring allows management at all levels to get in cleaning crews, update run down stores, hire professional, fast employees, update their registers, put in at least 2 self check outs (like Michael's. Gosh I love those!!), hire more employees, and get better buyers in to get updated craft supplies in their stores.
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Post by karensay on Mar 20, 2024 20:35:19 GMT
I went in recently to purchase blades for my Fiskar. They had NO Fiskar products. They did not even have any paper trimmers? I thought that was odd.
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FurryP
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Jun 26, 2014 19:58:26 GMT
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Post by FurryP on Mar 20, 2024 23:17:40 GMT
Does anyone else NOT like to buy online and pickup in store? I will not do it even for the extra % off they sometimes have. If the item is in the store I want to pick it myself. I don't necessarily want what is on top of the pile, I don't want a smashed box, paper that everyone touiched and then picked from the bottom, I don't want anything dog-eared even if you can barely notice it. Um, NO. I want to pick my own stuff. Online is usually a little bit different because the public in general is not touching it. ETA: I guess somethings would not make a difference, like a hard sturdy plastic pkg, but still, I am not driving all they way down to the store for a few items like that. Me ! I’m rather picky about my beloved paper being dented. I line up all the bar codes, so the cashier doesn’t have to handle it too much. My Joann’s is 25 miles away. It is big and well stocked. I mainly buy pretty paper and ephemera. I line up all my bar codes, too. And I put multiples together and if possible and I can keep up while the cashier is scanning each one, I fan them out so there is no finger licking going on. But mostly I am just trying to help.
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Post by jeremysgirl on Mar 21, 2024 12:28:11 GMT
I have a small JoAnn's in my neighborhood and a very big JoAnn's about ten minutes away. I rarely, if ever, go into the big JoAnn's, but I will admit that I hardly ever buy scrapbook stuff outside of adhesive and cardstock which I can find at my little JoAnn's. The scrapbook section is miniscule and the fabric section is about half the store. However, I do a lot of crafts, including quilting and crocheting. I also enjoy their little displays of decor and such. And I've recently gotten into cookie decorating so I also buy supplies there too. My store is bright and clean and I try to patronize them as much as possible because I desperately DO NOT want them to close. Luckily, my store also seems like it gets a good amount of business. And I tend to run there on morning breaks so I get there early and there are people shopping during typical business hours. My store is usually staffed by two or three people at a time and that seems like enough to keep things running smoothly. I will be very sad if my little store goes out of business. Like I said, it's not so much the scrapbook supplies that I'm on the hunt for, but other things and I turn there first for everything crafty. Michael's and Hobby Lobby are about 15 minutes away and Michael's looks like it's going through bankruptcy. I hardly ever find anything there. And I try to keep my Hobby Lobby shopping to a bare minimum but like someone mentioned above, it is the only place I can seem to find Fiskars trimmer blades. So I do run there when I need those because I never seem to notice until I sit down to work and my trimmer is cutting wonky. I should get in the habit of ordering online ahead of time, but I never think that far ahead.
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Post by katieanna on Mar 23, 2024 17:38:10 GMT
I know most of us are not surprised by this, but Joann filed for Chapter 11 Bankruptcy. My understanding of Chapter 11 Bankruptcy is that the focus is on reorganization, not forgiving all debt and closing the stores. Is that correct? It sounds like all Joann stores will remain open (for now). You are right. They want to focus on the reorganization. I was in my Joanns over the weekend and my store (which still had Tim Holtz Christmas stuff on display) is finally updating their stamping and ink section. Lots of new Hero Arts stuff. Fingers crossed this is a sign of good things to come. Hope so!
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Post by katieanna on Mar 23, 2024 17:43:05 GMT
From the blurb of a book about private equity firms "many private equity firms buy up retailers, medical practices, prison services, nursing-home chains, and mobile-home parks, among other businesses, using little of their own money to do it and avoiding debt and liability for their actions. Forced to take on huge debts and pay extractive fees, companies purchased by private equity firms are often left bankrupt, or shells of their former selves, with consequences to communities that long depended on them." This is new to me. Thank you for the info.
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