A private equity firm in Los Angeles has purchased JoAnn Fabrics. Having lived near JoAnn Fabrics’ headquarters city, and now living near a store, I have a love-hate relationship with JoAnn Fabrics. I simply hope that the buyout will change some things that drive me nuts. In any case, here’s the news: Leonard Green, a private equity firm, bought JoAnn Fabrics this month for $1.6 billion. Last month, the firm bought J. Crew for about $3 billion. Leonard Green seems to be on a roll: Since 1989, the firm has invested in 52 companies. You can read more here: JoAnn Fabrics Bought By Leonard Green.
Those who live near a JoAnn’s — and those who live in remote areas and have no other choices — find JoAnn’s to be less than ideal. Do you have strong opinions about JoAnn Fabrics? Please take a moment to comment. First, I want to say that in the Seattle area we have many choices, including one regional chain, so we don’t suffer for fabric and notions. But on with my criticisms: The current employees at my local JoAnn seem nice enough, but my cumulative experience has been mixed. Sometimes the staff has very little knowledge of sewing — they simply needed a retail job. Some of the fabrics are thin and low quality. And, the sales flyers that I get in the mail drive me nuts. The coupons are always timed for two weeks hence. The chance that I will carry around the sales flyer in my purse for the next two weeks is remote. Finally, my local store’s “remodel” resulted in half of the store being devoted to scrapbooking, crafts, and bedroom decorations. I do not live near a “Super JoAnn’s” but rather what they call a “small store,” so the apparel fabric side seems so diminished. This might not be the case for a suburbanite who shops at a Super JoAnn’s.
I’d like to hear from you. What do you think the new owners should change at JoAnn’s? Just leave a comment below.