Hudson, Ohio — JOANN, the fabric and crafts retailer, has commenced store closing sales at all 790 locations nationwide. The store closing process is being managed by GA Group, a leading asset disposition, valuation, appraisal and real estate services firm with extensive expertise in large-scale retail liquidations, together with Tiger Group as part of a joint venture.
“JOANN has been a beloved destination for makers and craft enthusiasts for more than 80 years,” says Tim Shilling of GA Group. “As we begin this store closing process, our priority is to ensure an orderly wind-down of the retailer’s operations while providing customers with exceptional savings on their favorite crafting and home décor products. This sale is a great opportunity for shoppers to take advantage of these deep discounts before stores close.”
The sale is expected to last for approximately 12 weeks, until the end of May, or until supplies last. All furniture, fixtures, and equipment are also available for purchase. The retailer’s intellectual property and leases will also be sold as part of this process.
GA Group was recognized as the successful bidder to serve as JOANN’s exclusive agent to monetize substantially all of JOANN’s assets pursuant to an auction approved by the U.S. Bankruptcy Court for the District of Delaware on Feb. 26, 2025.
Tiger Group is a financial, disposition, asset-valuation and advisory services firm assisting in managing the store closing sales. With over 50 years of experience and significant financial backing, Tiger helps clients identify the underlying value of assets, monitor asset risk factors and, when needed, provide capital, or convert assets to capital quickly and decisively. Tiger maintains offices in New York, Los Angeles, Boston, Chicago, Houston and Toronto.
GA Group’s experts value, monetize, lend against, or acquire assets across a broad range of sectors from both healthy and distressed companies. GA Group is majority-owned by funds managed by Oaktree Capital Management, L.P. For more information, visit http://www.gagroup.com.
SOURCE: GA Group