40-year-old arts and crafts chain files Chapter 11 bankruptcy
thestreet.com••business
Key Points:
- The arts and crafts retail sector has seen significant store closures in recent years due to ownership retirements and financial struggles, with Beverly’s Fabric & Crafts closing all 40 California stores in late 2020 after 48 years.
- Joann, a major crafts and fabric retailer, filed for Chapter 11 bankruptcy for the second time in January 2025, leading to the closure of all approximately 815 stores and severely impacting suppliers like IG Design Group Americas Inc., which also filed for bankruptcy in July 2025.
- Artist & Craftsman Supply, a 40-year-old arts and crafts retail chain with 18 stores across 11 states, filed for Chapter 11 bankruptcy in December 2025 due to economic challenges and tight lending restrictions
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