Illinois Joann Stores Closing: What Happens to Gift Card Holders

At the start of 2025 Joann Fabrics filed for bankruptcy for the second time, marking a significant turning point for the iconic craft retailer. Following this announcement, the company revealed that it would be closing all 800 of its locations across the country, with each store holding a going-out-of-business sale to liquidate remaining inventory. Joann's decision to shut down its stores comes after a period of struggling sales, compounded by ongoing inventory challenges.

No More Gift Cards In Illinois

Cheapism went on to put this headline out: "Joann Gift Card Holders Are Out of Luck as Stores Go Out of Business" This has a lot of people checking to see if they have unused gift cards. If you do... I have bad news. They went on to say,

Other Joann things that are no longer valid include all coupons and discounts for teachers, military, Girl Scouts, and other groups. You also cannot return items anymore.

A customer FAQ reported on the website dedicated to the Joann bankruptcy process, the final day to redeem Joann gift cards was February 28... sorry about that. Unfortunately, the company announced its complete closure just three days prior to that deadline.

Many people were sad to see the store announce the closing and the voided gift cards for the multiple stores across America. Iowa sadly does not have a law that protects you with this, but one state does.

So unfortunately, if you still have a Joann gift card, you’re probably out of luck, unless you happen to live in Maine, where there’s a law that might protect you.

Hopefully you don't have a massive gift card stored somewhere.