Jo-Ann Fabrics is Now Closed

Jo-Ann Fabrics was founded as the Cleveland Fabric Shop in 1943. Twenty years later, new stores opened under the Jo-Ann name in 1963 after further expansion outside the single Ohio store. In 1959, Jo-Ann was incorporated as Fabri-Centers of America. In September 1998, the company changed its name to Jo-Ann Stores. After being publicly traded for 12 years, Jo-Ann was sold to private equity firm Leonard Green & Partners on March 23, 2010 and was delisted from the American Stock Exchange (now NYSE American) a year later. In 2021, Jo-Ann filed an initial public offering on the NASDAQ and traded under the stock ticker symbol JOAN. This was the second time in history that Jo-Ann was a public company. However, Leonard Green & Partners retained a majority stake in Jo-Ann Stores. On March 18, 2024, Jo-Ann Stores first filed for Chapter 11 bankruptcy protection. As a result, stock trading was stopped on March 28 with the delisting on April 9. Jo-Ann was reorganized as a private company o...