Crafting a New Future: Michael’s Buys Joann Brands
When MULO (multi-location) fabric and crafts store JOANNÂ declared bankruptcy and closed stores, crafters were up in arms. They took to social media, fretting about where they would buy their favorite handcraft supplies. Michael’s just purchased the failed brand’s 600 products across multiple categories, including fabric, quilting and sewing supplies, sewing machines, and yarn. Those crafters […]
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 […]