Posted in Web All Joann stores to close as auction winners plan to liquidate assets February 24, 2025 About a week before the auction, a bankruptcy court approved to shut down more than 500 Joann stores as part of an effort to recover value for creditors. https://www.ocregister.com/2025/02/24/oaktree-backed-ga-group-lenders-win-auction-for-bankrupt-joann/