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Michaels Expands Offerings After Acquiring Joann's Assets

6/8/2025

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Summary

Story summary

Michaels has acquired Joann's intellectual property and private label brands following Joann's bankruptcy.
This acquisition seeks to draw Joann's former customers by broadening Michaels' fabric and sewing product range.
Michaels will introduce over 600 new products and improve fabric selections in 680 stores, offering 10,000 options online.
Joann, in operation since 1943, filed for Chapter 11 bankruptcy twice and will close all stores by February 2025.

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Story summary

Michaels has acquired Joann's intellectual property and private label brands following Joann's bankruptcy.
This acquisition seeks to draw Joann's former customers by broadening Michaels' fabric and sewing product range.
Michaels will introduce over 600 new products and improve fabric selections in 680 stores, offering 10,000 options online.
Joann, in operation since 1943, filed for Chapter 11 bankruptcy twice and will close all stores by February 2025.