Joann: The Rise and Fall of a Midwest Fabric Store

Make sure you check out the Shave and Suds bundle through the link http://harrys.com/emmainthemoment and pick something up next time you’re at your favorite store. Let me know what you get!
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On March 18, 2024 popular craft retail chain Joann Fabrics filed for Chapter 11 bankruptcy. This video is an analysis of what I think led to this bankruptcy filing. By the end of April they announced that they would be emerging from bankruptcy but it's hard to say if their troubles are over.

Small update from Sam: " I actually only asked for 4 days off before i was retaliated against with two 11 hour shifts. I think this makes my statements even more reasonable at the hands of an awful company."

Thank you to ‪@cheyennebarton‬ and ‪@mrsmoonheaven‬ for their work as Bed, Bath, and Beyond and Trader Joe's respectively. And to ‪@onethiirdcrochet‬ and ‪@crochetmezaddy‬ for reading text for this!

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Sources:
Joann history:
https://www.cleveland.com/pdextra/201...

Joann bankruptcy:
NPR https://www.npr.org/2024/03/18/123916...

Bloomberg https://www.bloomberg.com/news/articl...

Ad week
https://www.adweek.com/brand-marketin...

https://www.iheart.com/content/2023-1...
https://www.beaconjournal.com/story/b...
https://www.thestreet.com/retailers/a...

Bankruptcy press release:
https://investors.joann.com/news-rele...

Chapter 11 bankruptcy overview:
https://www.uscourts.gov/services-for...

Number of stores:
https://www.scrapehero.com/location-r...

Bankruptcy SEC filing:
https://investors.joann.com/node/8686...

Joann Bankruptcy info page FAQs:
https://www.joannforward.com/customer...

Bankruptcy case info:
https://cases.ra.kroll.com/Joann/

Joann History:
https://media.corporate-ir.net/media_...

Bankruptcy update:
https://www.cleveland.com/news/2024/0...
https://www.globenewswire.com/news-re...
https://www.retaildive.com/news/joann...

Trader Joes:
https://www.newyorker.com/culture/cul...

Party City closures:
https://thehustle.co/party-city-heliu...
https://www.wsj.com/video/series/news...
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00:00 Intro
07:01 Harry's
08:05 How did this happen and what went wrong?
14:31 Is this all inevitable?
17:28 Who does this affect?
21:51 Conclusion
23:17 Update

Edited by Chad Barnard
Co-writer Nicholas Melvin

#joannfabric #joannbankruptcy