Off-price retailer Burlington has acquired the leases of 45 Joann store locations, according to a report by Retail Dive.
Arts and crafts retailer Joann had previously filed for bankruptcy in January 2025 and closed all its 800 stores after a company review.
Burlington plans to expand its footprint through the acquisition of the leases, which is expected to be completed in May and June.
The locations of the leases are across the US, including the states of California and Texas.
Other companies are also expanding their presence by buying the Joann’s leases, including companies Hobby Lobby and Boot Barn.
A company spokesperson for Joann’s said in a statement to USA Today, “Joann leadership, our board, advisors, and legal partners made every possible effort to pursue a more favorable outcome that would keep the company in business.
“We are committed to working constructively with the winning bidder to ensure an orderly wind-down of operations that minimizes the impact on all our stakeholders.”
Joann faced bankruptcy twice, previously filing for Chapter 11 in March 2024 before re-emerging. The remaining assets of Joann’s were acquired by GA Group, and the auctions will be overseen by A&G Real Estate Partners.
“The auction of Joann’s store leases presents a unique chance to transform well-located retail spaces into thriving businesses,” said Emilio Amendola, co-president of A&G.
The speciality retailer was founded in 1943 and served as a major supplier for arts and crafts products with over 800 stores in different states in the US.
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