As Joann Fabrics closes its stores nationwide, Burlington has moved quickly to acquire 45 expiring leases. The transition will start in May and June, helping Burlington expand its national footprint.
Joann plans to close all remaining locations by the end of May after filing for bankruptcy earlier this year.
Burlington expands while Joann exits malls
A recent court filing confirmed that Burlington will take over 45 Joann locations in states like California and Texas. The company expects to pay more than $50,000 to secure these leases.
Burlington’s expansion comes as other retailers struggle. The company opened 101 new stores and relocated 31 others in 2024, boosting its net sales by 4.8% year over year to nearly $3.3 billion.
Despite the growth, Burlington CEO Michael O’Sullivan warned that 2025 could bring economic uncertainty. He said the company remains cautious as it moves forward.
Other retailers, including Hobby Lobby and Boot Barn, are also eyeing Joann’s vacant spaces. However, the number of locations they will take remains unclear.
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Joann’s closure highlights bigger retail challenges
Joann’s collapse shows how tough the retail environment has become. The crafts chain filed for bankruptcy twice within a year, blaming supply chain problems and changing consumer habits.
A Joann spokesperson said closing the stores was a difficult but necessary decision after a detailed performance review.
Joann continues to offer closing sales with discounts up to 70%. However, the company has stopped accepting online payments, and shoppers are warned to avoid fraudulent websites pretending to be Joann.
The fall of Joann signals a bigger shift in retail. Companies like Burlington are moving quickly to claim space left behind by struggling brands.
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