Craft retail chain The Michaels Companies said on Thursday that it has acquired the beloved fabrics retailer Joann, which recently winded down operations and closed all of its stores after a second bankruptcy.

The sale included Joann’s intellectual property, as well as its private label brands, like Big Twist yarn.

The announcement noted that searches for “fabric” on Michaels.com have skyrocketed by 77% since Joann stores began closing their doors in early 2025.

As a result, Michaels has already been adjusting its merchandise accordingly to set the stage for absorbing Joann customers. The chain said it has increased merchandise in the fabric category in over 680 stores.

‘Rising demand across categories’

Post-acquisition, Michaels said it will expand on the kinds of merchandise once av

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