The loss of life of Joann materials is popping out to be an enormous achieve for at the very least one different retailer.
Following the beloved craft chain’s chapter and subsequent plan to wind down its operations, low cost retailer Burlington Shops—previously referred to as Burlington Coat Manufacturing facility—is transferring to scoop up dozens of leases from former Joann places throughout greater than 20 states, courtroom paperwork reveal.
The 45 places, a few of which have been house to Joann’s shops for many years, had been listed as being taken over by numerous Burlington subsidiaries on a chapter courtroom submitting final week, with the corporate anticipated to imagine management of many of the leases on June 1.
In January, Joann filed for Chapter 11 bankruptcy protection for a second time in lower than a yr, having succumbed to inflationary pressures and shifting habits amongst shoppers who had embraced at-home crafts in the course of the early years of the pandemic.
The corporate has since mentioned it might shut each location, with a sizable chunk of those stores closing for good final week. All of Joann’s virtually 800 shops are anticipated to be closed by the top of Might.
The comparatively fast wind-down creates a possibility for different retailers which can be in search of area, with leases out there for low remedy quantities or no remedy value in any respect, courtroom data present. The switch of leases to Burlington just isn’t a achieved deal, as events nonetheless have time to object.
Quick Firm reached out to Burlington for remark and extra particulars.
‘2,000-store goal’
Headquartered in Burlington, New Jersey, Burlington Shops presents merchandise at so-called off costs, specializing in attire, footwear, and naturally coats. The corporate previously referred to as Burlington Coat Manufacturing facility earned $504 million in revenue on income of $10.6 billion in fiscal 2024.
Final week’s submitting reveals Texas because the state with probably the most Joann shops that can be transferred to Burlington, with 9 places within the Lone Star state, adopted by California with 5.
The submitting additionally presents a window into the expansion plans of a brick-and-mortar model with ambitions to considerably enhance its retailer depend.
Whereas many chain retailers have diminished their bodily footprint or shuttered totally over the previous few years, Burlington has been rising at a wholesome clip. The corporate opened greater than 100 net new stores in 2024, CEO Michael O’Sullivan mentioned in an earnings launch in March, and it plans to open one other 100 places this yr.
Burlington has additionally been relocating dozens of places that O’Sullivan described as “outsized,” a part of a nationwide development by which retailers are trying to do more with smaller-format shops.
As of the top of its final fiscal yr, Burlington operated 1,108 shops in 46 states, together with Washington, D.C., and Puerto Rico. It has mentioned it has a long-term goal of two,000 shops.
Along with Burlington, the submitting additionally listed different retailers that had been taking on a handful of Joann places, together with Passion Foyer, Boot Barn, and furnishings retailer Massa Gallery.
Under yow will discover the complete checklist of places that Burlington is looking for to take over. The oldest lease on the checklist, in Flagstaff, Arizona, dates again to April 1979.
Arizona
- 1717 N Dysart Street in Avondale, AZ
- 1514 S Riordan Ranch St in Flagstaff, AZ
Arkansas
- 3835 North Mall Ave in Fayetteville, AR
California
- 5885 Lincoln Avenue in Buena Park, CA
- 26583 Carl Boyer Drive in Santa Clarita, CA
- 2210 Daniels St in Manteca, CA
- 3010 Ming Ave in Bakersfield, CA
- 12779 Principal Avenue in Hesperia, CA
Colorado
- 2580 South Colorado Blvd in Denver, CO
- 7360 South Gartrell Street in Aurora, CO
Florida
- 10261 River Marsh Drive Ste 149 in Jacksonville, FL
- 540 N us Hwy 441 in Woman Lake, FL
- 1131 S Federal Hwy in Pompano Seaside, FL
Georgia
- 2655 N. Decatur Street, Decatur, GA
- 1074 Bullsboro Drive Unit #6 in Newnan, GA
Illinois
- 7511 Lemont Rd Ste 101 in Darien, IL
- 2056 N. State Route 50, Bourbonnais, IL
Kentucky
- 4600 Shelbyville Rd Ste 280 in Louisville, KY
Massachusetts
- 96 Windfall Freeway in East Walpole, MA
Michigan
- 9052 Highland Street in White Lake, MI
Mississippi
- 3875 North Gloster Avenue in Tupelo, MS
Nebraska
- 10521 S. 15Th Avenue in Bellevue, NE
New Mexico
- 558 E. Principal St., Farmington, NM
New York
- 3225 State Route 364 in Canandaigua, NY
- 1530 County Route 64 in Horseheads, NY
North Carolina
- 80 South Tunnel Street Suite 30 in Asheville, NC
Ohio
- 4600 W Broad Avenue in Columbus, OH
- 3872 Paxton Avenue, Cincinnati, OH
- Boardman Poland Street, Youngstown, OH
Oregon
- 783 Lancaster Dr. Ne. Suite #133 in Salem, OR
South Carolina
- 1120 Seaboard Avenue, Myrtle Seaside, SC
- 1215-B North Principal Avenue in Summerville, SC
Texas
- 1219 North Fry Street in Katy, TX
- 10515 N Mo Pac Expy Bldg 1 in Austin, TX
- 9500 S I-35 Frontage Rd. Constructing Okay, Austin, TX
- 4127 N Hwy 75 in Sherman, TX
- 2640 West College Dr in Denton, TX
- 2050 West College Dr Suite 250 in Mc Kinney, TX
- 19105 Lyndon B Johnson Fwy., Mesquite, TX
- 10501 Gateway Blvd W Bld 9 in El Paso, TX
- 201 College Oaks Blvd in Spherical Rock, TX
Utah
- 720 W. Telegraph in Washington, UT
Washington
- 700 Ocean Seaside Hwy Ste 100 in Longview, WA
Wisconsin
- 1226 Koeller St in Oshkosh, WI
- 4045 Commonwealth Ave in Eau Claire, WI
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