Michigan has seen several of its favorite businesses shut down locations in the Great Lakes state and one of America's largest craft stores could be next on the list as it's filing for bankruptcy for the second time in 12 months.

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Popular Craft Store In Michigan Files For Bankruptcy...Again

Several major retail chains are closing locations in Michigan at a concerning pace. According to CNN, the reasons behind these massive closures include pushing more online sales, bankruptcy, or closing underperforming locations and investing in those that make money. And one more retailer has filed for bankruptcy...again.

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JoAnn first filed for bankruptcy in March 2024 and became a private company, keeping all of its stores open. However, sluggish sales and inventory issues forced Joann to file for Chapter 11 again. According to CNN, Joann is now seeking a sale and Gordon Brothers Retail Partners, which recently bought most of Big Lots has put in a bid. The retail chain is hoping for additional offers.

Joann’s swift return to court follows a string of retail bankruptcies including Party City, Big Lots, and The Container Store. Factors like inflation, and rising labor costs, the pandemic's impact on retail has caused many brick-and-mortar stores to struggle to stay afloat.

The company did not comment on whether it expects store closures in Michigan or the U.S. Joann’s stores and website to remain open while navigating the sales process.

Check the list below for several other retail chains closing locations soon in Michigan.

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