My fleece supplier declared bankruptcy, again.
Over the years I have sourced my fabrics from several sources. Two went out of business. One changed their price strategy and I couldn't absorb the increased pricing. One quit carrying fleece. One I don't care for the quality of fleece they carry. For the past nine years I have sourced 100% of my fleece from JOANN, after Hancock Fabrics closed all locations.
In January 2025, JOANN declared bankruptcy for the 2nd time in less than a year, seeking to sell. There is already a "stalking horse" bidder, Boston-based Gordon Brothers, which is a well-known liquidator.
On February 12, 2025, JOANN filed a motion seeking court authority to begin closing 533 of its stores across the nation.
I don't know where this is going to leave me, or thousands of other crafters and home-based business that relied on JOANN for their supplies. JOANNS offered the most prints and solid colors of any of my suppliers and at more affordable prices.
I don't know how this will end. There is conflicting information available on the internet. Some sources say there are now three bidders for the business, all of them being liquidators. Another source says the 533 locations have been sold and the remaining locations will continue operations. While we all watch this play out, I have decided to simplify my own business plan. I am reducing the number of prints I offer for custom PJs. This will allow me to focus on ready to ship PJs and faster turnaround times.
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