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mucholderthandirt

(1,477 posts)

32. Joann's has been in trouble for years, decades, even. Poor management, stores kept half-empty, employees of the devil...

Reply to AStern (Original post)

Wed Apr 30, 2025, 10:13 AM

Wednesday

Those of us who sew and/or craft have known this, we've dealt with it, but the truth is, if you had nothing but a Joann's, you felt lucky there was something at all. Fabric stores are pretty much not going to ever be a thing again. People stopped sewing basically for a decade or so, and the businesses just died. I remember loving Hancock Fabrics, they were huge and had everything. Kmart didn't sell fabric and only basic sewing supplies. We didn't have Walmart in those days. We had a couple of other local places you could get some craft supplies, but it wasn't a lot of variety. Now most Walmart stores closed up their fabric sections (we still have one, barely). It's a crafting desert out there. Thank goodness for online!

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It starts with a closing store. [View all] AStern Tuesday OP

Socialized Capitlism Kid Berwyn Tuesday #1

Excellent article. Thanks for posting. I gave a talk about this to me senior group. They SharonAnn Tuesday #2

I love Hooters and nothing to do with the girls. I really like their wings, eat there about once a week. Expensive. OverBurn Tuesday #3

I had a birthday lunch there Skittles Tuesday #22

We used to have nice things in the United States. Initech Tuesday #4

Does America need a Vladimir Lenin style Dan Tuesday #5

That turned out badly for the common people of Russia. Mister Ed Tuesday #8

Meet the new boss, same as the old boss /nt localroger Wednesday #52

No TheProle Tuesday #15

Both Lenin and the Trump coalition are politically authoritarian. markodochartaigh Tuesday #18

I believe this is called "pump and dump" Fil1957 Tuesday #6

Regan and Bush 1. IbogaProject Tuesday #7

I seem to have read DENVERPOPS Tuesday #9

It isn't Capitalism vs Socialism MadameButterfly Wednesday #29

When corporations become government louis-t Wednesday #39

JoAnne's declared bankruptcy before being sold to a private equity firm. MichMan Tuesday #10

Just remember, the goal of private equity isn't to save the company. louis-t Wednesday #34

Isn't profit the goal of every business ? MichMan Wednesday #36

Entrepreneurs grow companies. Vulture capitalists (private equity) suck them dry, which they have to do in private. Bernardo de La Paz Wednesday #37

What happens when those entrepreneurs fail? MichMan Wednesday #40

I was commenting on the general claim that included vulture private equity capitalists in "seeking profit" Bernardo de La Paz Wednesday #45

A couple of points about Joann. louis-t Wednesday #46

I didn't say the goal shouldn't be profit. louis-t Wednesday #38

What is the proposed solution for failing companies if they are prohibited from selling them? MichMan Wednesday #41

Actually, publicly-owned companies have a better success rate. louis-t Wednesday #44

I never knew they got public financing of the debt. I always thought it was banks taking the risk MichMan Wednesday #47

It's banks, bank syndicates and private investors. louis-t Wednesday #49

you sure like defending cybertrucks and vulture capitalists Skittles Wednesday #51

"Capitalism has made it this way..." ZDU Tuesday #11

Excellent. Also Coos County resident. NT Wah_Guy Tuesday #12

And most people don't have a clue how it all works TexasBushwhacker Tuesday #13

Bain! Literally the Bain of our existence. calimary Tuesday #26

Been to a mall lately? BidenRocks Tuesday #14

Get in the wayback machine Earl_from_PA Tuesday #25

I'm retired and old. I have a couple of pairs of shoes with easy slip on, from LL Bean and they've been worn by me for CTyankee Tuesday #27

This can be a positive thing Sucha NastyWoman Tuesday #16

BlackRock, Vanguard, and State Street hold significant ownership stakes in many media companies. sop Tuesday #17

Worse: hasn't Blackrock been involved in scooping up huge numbers of homes for sale, taking them off wiggs Tuesday #19

Yes, and they aren't the only ones. It is a major reason louis-t Wednesday #35

Agree. Terrible, terrible trend. Most of the US will be renters eventually. Except the top 10%. nt wiggs Wednesday #53

Big Lots filed bankruptcy too. Emile Tuesday #20

powerful Demovictory9 Tuesday #21

A Nit To Pick ProfessorGAC Tuesday #23

This is a rather depressing post. WestMichRad Tuesday #24

If my retirement account is funding this... dickthegrouch Tuesday #28

The Mitt Romney playbook. Vulture Capitalism. Scalded Nun Wednesday #30

As a Professional Seamstress, I am saddened by the closing of JoAnn Fabrics. ProudMNDemocrat Wednesday #31

Joann's has been in trouble for years, decades, even. Poor management, stores kept half-empty, employees of the devil... mucholderthandirt Wednesday #32

The home sewing industry DENVERPOPS Wednesday #42

Link without FB? Starbeach Wednesday #33

marygeddry.substack.com AStern Wednesday #43

Joanns should have done store renovations JI7 Wednesday #48

Its a problem when they can make money quakerboy Wednesday #50