Joann set to close remaining stores
WEWS: Jonathan Ernest, assistant professor of economics at Weatherhead School of Management, discussed the decision by Joann Fabrics to close all 800 stores after an auction, despite initially planning to keep 300 open. Ernest noted the decision was driven by debts exceeding assets, a common fate for struggling retailers; he also warned of job losses and economic impacts, particularly in Joann’s hometown, Hudson.
