Will Great Falls and Montana Lose This Favorite Craft Store?

Will Great Falls and Montana Lose This Favorite Craft Store?

In what would be another major blow to Great Falls and to Montana, craft and fabric retailer giant Joann Fabrics is possibly filing for bankruptcy as soon as next week.

This isn't the first major retailer to be facing harsh times in the current economic cycle we are in.  Names in Great Falls that have left run long, including Black Bear Diner, Boston's, Bed, Bath and Beyond and more even local businesses that have closed their doors in the last year.

7 Locations Operating Across Montana Currently with Joann Fabrics

With locations serving the major cities across Montana, this would definitely be a blow to anyone who patronizes these areas.  Joann Fabrics has near 850 locations across the United States.

But according to Bloomberg News, that could change within the next week:

Crafts retailer Joann Inc. is considering a bankruptcy filing as soon as next week as part of a deal that would hand control of the company to lenders while allowing it to shed expensive debt.

Get our free mobile app

Stores Still in Limbo, Especially in Great Falls

The current Joann Fabric store in Great Falls, located at 2515 10th Avenue South is still operating, and hopes were to move to their new location in the Holiday Village Mall have been on hold for several weeks.

Could that change with this new possibility?  Yes, but as of now there aren't any official notifications from the company as to what plans are in store for the new location in Great Falls.  For now, they remain open.

Hope is that with the Chapter 11 bankruptcy filing, Joann Fabric will continue to operate while it works out a plan with creditors.