Another 19,000 Americans are losing their jobs because an 80-year-old retailer couldn’t compete with Amazon’s undercutting and China’s cheap imports.
At a Glance
- Joann Inc. is closing all 800+ stores nationwide after filing for Chapter 11 bankruptcy for the second time in a year
- Nearly 19,000 employees will lose their jobs as the company carries $615.7 million in debt
- Initial plans to keep 300 stores open collapsed when no buyer stepped forward
- Going-out-of-business sales are underway with gift cards valid through February 2025
- The closure highlights how traditional retailers are being crushed by digital competition
Another American Retailer Falls to the Digital Onslaught
Well folks, another American institution bites the dust while our leaders obsess over pronouns and diversity quotas. Joann Inc., the fabric and crafts retailer that’s been a staple in communities for eight decades, is shuttering all of its U.S. stores after a second bankruptcy filing in just one year. This isn’t just about losing a place to buy yarn and fabric – it’s about 19,000 hardworking Americans losing their livelihoods while our government showers billions on foreign countries and illegal immigrants. The company initially thought it could survive by closing 500 locations and keeping 300 open, but when no buyer emerged, the entire operation collapsed.
Joann’s financial woes aren’t happening in a vacuum. The retailer is drowning in $615.7 million of debt, with over $133 million owed to suppliers alone. This is what happens when government regulations strangle small and medium-sized businesses while big tech giants like Amazon can undercut prices and offer next-day delivery. Our elected officials stand by watching the American retail landscape transform into a wasteland of empty storefronts and “For Lease” signs, all while drafting the next round of small business regulations that will push even more companies over the edge.
“Going Out of Business” – The New American Retail Reality
If you’ve driven through any town in America lately, you’ve seen the “Going Out of Business” signs plastered across storefronts. Joann is just the latest casualty in what’s becoming a retail apocalypse. Liquidation sales are now underway at all remaining locations and online, as the company attempts to recoup whatever it can for its creditors. Customers with gift cards have until February 28, 2025, to use them – a small courtesy as the company dismantles itself after serving communities for generations. Remember when America was known for building businesses, not destroying them?
“Right-sizing our store footprint is a critical part of our efforts to ensure the best path forward for Joann” – a company spokesperson
That corporate-speak for “right-sizing” is just another way of saying they’re closing everything and firing everyone. I’m sure that’s comforting to the nearly 19,000 employees who will soon be filling out unemployment forms. While our government throws money at green energy boondoggles and DEI initiatives, real Americans are losing their jobs because businesses can’t compete with the digital marketplace and overseas manufacturing. The failure to adapt to e-commerce isn’t just Joann’s problem – it’s a symptom of larger economic policies that have crippled American manufacturing and retail for decades.
The End of an American Institution
For 80 years, Joann stores were more than just retail spaces – they were community hubs where people learned crafts, shared ideas, and built relationships. Now, over 800 locations will stand empty, joining the growing ranks of abandoned retail spaces across America. The company’s failure to secure a buyer isn’t surprising in today’s economy, where inflation has eaten away at consumer spending power and made business expansion nearly impossible. Instead of addressing these fundamental economic problems, our leaders are busy creating more regulations, higher taxes, and expensive mandates that crush entrepreneurship.
“We deeply appreciate our dedicated team members, our customers and communities across the nation for their unwavering support for more than 80 years” – the company –
Appreciation doesn’t pay the bills, folks. Those 19,000 employees would probably prefer job security over a corporate thank-you note. This is the human cost of our government’s economic policies – real people with families, mortgages, and dreams seeing their livelihoods vanish. The collapse of Joann isn’t just another business story; it’s a warning about what happens when we abandon the principles that once made American retail and manufacturing the envy of the world. While politicians debate which pronouns to use, another American institution falls, and more American workers join the unemployment line. Is this really the “transformation” we were promised?
