National retailer plans to close 500 stores, including 2 in Central NY, 24 in NY state

Materials and arts network Joann on Wednesday announced a plan to&nbsp, tight about 500 stores&nbsp, global, including 24 in&nbsp, New York state&nbsp, and two in&nbsp, Central New York.

The Joann business in the Fayetteville Towne Center is on a final record released by the business, as is the business on&nbsp, Clinton Street&nbsp, in&nbsp, Cortland.

The Joann business on&nbsp, position Route 31&nbsp, in&nbsp, Clay&nbsp, is not in the final list.

The move had near more than half of the nearly 800 U. S. outlets the company operates.

A&nbsp, business statement&nbsp, read, in piece,” As part of the continuous Chapter 11 approach and our efforts to maximize the value of the company, Joann has filed a motion seeking court authority to begin closing around 500 stores across the nation. Given the significant effects we know it will have on our Group People, our users, and all of the communities we serve, making this decision was a really tough decision.

The move comes just a few days after&nbsp, the company declared bankruptcy&nbsp, for next day in a year, citing struggling sales and “acute and unpredicted” stock issues.

While no timeline for the shutdowns was announced, the&nbsp, business said&nbsp, that it filed a movement with bankruptcy court to begin the process of closing the shops, and a reading on the action is scheduled for Friday. If approved, going-out-of-business sales at the stores slated to close could begin as soon as Saturday and could continue for months.

The company is seeking buyers. &nbsp, Gordon Brothers Retail Partners, which recently&nbsp, bought a portion of&nbsp, Big Lots&nbsp, in bankruptcy, is currently the leading bidder at an undisclosed price.

Joann is seeking alternate bids, according to&nbsp, an FAQ on its website, and it’s possible a new owner could keep the business alive. However, it has indicated that it intends to pursue a liquidation of the company if Gordon Brothers emerges at the highest bidder.

New York state stores on Joann’s closing list:

• 330 Towne Center Drive, &nbsp, Fayetteville
• 162 Clinton St., &nbsp, Cortland
• Clifton Country Road, &nbsp, Clifton Park
• 1440 Central Ave., &nbsp, Albany
• 2429 Military Road, &nbsp, Niagara Falls
• 1551 Niagara Falls Blvd., &nbsp, Amherst
• 3540 Mckinley Parkway, &nbsp, Blasdell
• 4101 Transit Road, &nbsp, Williamsville
• 1530 County Route 64, &nbsp, Horseheads
• 1385 Ulster Ave., &nbsp, Kingston
• 580 Old Country Road, &nbsp, Westbury
• 35 W. Montauk Highway, &nbsp, West Babylon
• 965 Central Park Ave, &nbsp, Scarsdale
• 318 E. Fairmount Ave., &nbsp, Lakewood
• 4908 State Highway&nbsp, 30, &nbsp, Amsterdam
• 228 W. Main St., &nbsp, Malone
• 2503B W. State St., &nbsp, Olean
• 1283 Arsenal St., &nbsp, Watertown
• 160 Fairview Ave., Hudson
• 88 Dunning Road, &nbsp, Middletown
• 2600 South Road, &nbsp, Poughkeepsie
• 3333 W. Henrietta Road, &nbsp, Rochester
• 3042 Ridge Road, &nbsp, Rochester
• 3225&nbsp, State Route 364, &nbsp, Canandaigua

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