BUST: Jo-Ann Fabric and Crafts Needs to be Re-Stitched
We recently covered the challenges of the MULO (multi-location) crafts industry and speculated on whether the giant stores that sell sewing, knitting, scrapbooking, and other creative supplies and classes would survive. The question is still unanswered, despite the fact that 81-year-old Ohio-based Jo-Ann Fabric and Crafts (JOANN) just filed for Chapter 11 bankruptcy. All of […]
BOOM or BUST? Will the Mega MULO Crafts Store Survive?
As tech-centric as the world has become, handcrafts are still alive and well! Just look at Etsy, which has been steadily growing. Although the MULO (multi-location) crafts industry is not unraveling like an unfortunate knitting project, online competition has put a pin prick into big box store revenues. The pandemic also eliminated many in-store events. Just […]