Posted 4 hours ago4 hr comment_13102 The death of Joann fabrics is turning out to be a big gain for at least one other retailer. Following the beloved craft chain’s bankruptcy and subsequent plan to wind down its operations, discount retailer Burlington Stores—formerly known as Burlington Coat Factory—is moving to scoop up dozens of leases from former Joann locations across more than 20 states, court documents reveal. The 45 locations, some of which have been home to Joann’s stores for decades, were listed as being taken over by various Burlington subsidiaries on a bankruptcy court filing last week, with the company expected to assume control of most of the leases on June 1. In January, Joann filed for Chapter 11 bankruptcy protection for a second time in less than a year, having succumbed to inflationary pressures and shifting habits among consumers who had embraced at-home crafts during the early years of the pandemic. The company has since said it would close every location, with a sizable chunk of those stores closing for good last week. All of Joann’s almost 800 stores are expected to be closed by the end of May. The relatively quick wind-down creates an opportunity for other retailers that are looking for space, with leases available for low cure amounts or no cure price at all, court records show. The transfer of leases to Burlington is not a done deal, as interested parties still have time to object. Fast Company reached out to Burlington for comment and additional details. ‘2,000-store target’ Headquartered in Burlington, New Jersey, Burlington Stores offers merchandise at so-called off prices, specializing in apparel, footwear, and of course coats. The company formerly known as Burlington Coat Factory earned $504 million in profit on revenue of $10.6 billion in fiscal 2024. Last week’s filing shows Texas as the state with the most Joann stores that will be transferred to Burlington, with nine locations in the Lone Star state, followed by California with five. The filing also offers a window into the growth plans of a brick-and-mortar brand with ambitions to significantly increase its store count. While many chain retailers have reduced their physical footprint or shuttered entirely over the past few years, Burlington has been growing at a healthy clip. The company opened more than 100 net new stores in 2024, CEO Michael O’Sullivan said in an earnings release in March, and it plans to open another 100 locations this year. Burlington has also been relocating dozens of locations that O’Sullivan described as “oversized,” part of a national trend in which retailers are trying to do more with smaller-format stores. As of the end of its last fiscal year, Burlington operated 1,108 stores in 46 states, along with Washington, D.C., and Puerto Rico. It has said it has a long-term target of 2,000 stores. In addition to Burlington, the filing also listed other retailers that were taking over a handful of Joann locations, including Hobby Lobby, Boot Barn, and furniture retailer Massa Gallery. Below you can find the full list of locations that Burlington is seeking to take over. The oldest lease on the list, in Flagstaff, Arizona, dates back to April 1979. Arizona 1717 N Dysart Road in Avondale, AZ 1514 S Riordan Ranch St in Flagstaff, AZ Arkansas 3835 North Mall Ave in Fayetteville, AR California 5885 Lincoln Avenue in Buena Park, CA 26583 Carl Boyer Drive in Santa Clarita, CA 2210 Daniels St in Manteca, CA 3010 Ming Ave in Bakersfield, CA 12779 Main Street in Hesperia, CA Colorado 2580 South Colorado Blvd in Denver, CO 7360 South Gartrell Road in Aurora, CO Florida 10261 River Marsh Drive Ste 149 in Jacksonville, FL 540 N us Hwy 441 in Lady Lake, FL 1131 S Federal Hwy in Pompano Beach, FL Georgia 2655 N. Decatur Road, Decatur, GA 1074 Bullsboro Drive Unit #6 in Newnan, GA Illinois 7511 Lemont Rd Ste 101 in Darien, IL 2056 N. State Route 50, Bourbonnais, IL Kentucky 4600 Shelbyville Rd Ste 280 in Louisville, KY Massachusetts 96 Providence Highway in East Walpole, MA Michigan 9052 Highland Road in White Lake, MI Mississippi 3875 North Gloster Street in Tupelo, MS Nebraska 10521 S. 15Th Street in Bellevue, NE New Mexico 558 E. Main St., Farmington, NM New York 3225 State Route 364 in Canandaigua, NY 1530 County Route 64 in Horseheads, NY North Carolina 80 South Tunnel Road Suite 30 in Asheville, NC Ohio 4600 W Broad Street in Columbus, OH 3872 Paxton Avenue, Cincinnati, OH Boardman Poland Road, Youngstown, OH Oregon 783 Lancaster Dr. Ne. Suite #133 in Salem, OR South Carolina 1120 Seaboard Street, Myrtle Beach, SC 1215-B North Main Street in Summerville, SC Texas 1219 North Fry Road in Katy, TX 10515 N Mo Pac Expy Bldg 1 in Austin, TX 9500 S I-35 Frontage Rd. Building K, Austin, TX 4127 N Hwy 75 in Sherman, TX 2640 West University Dr in Denton, TX 2050 West University Dr Suite 250 in Mc Kinney, TX 19105 Lyndon B Johnson Fwy., Mesquite, TX 10501 Gateway Blvd W Bld 9 in El Paso, TX 201 University Oaks Blvd in Round Rock, TX Utah 720 W. Telegraph in Washington, UT Washington 700 Ocean Beach Hwy Ste 100 in Longview, WA Wisconsin 1226 Koeller St in Oshkosh, WI 4045 Commonwealth Ave in Eau Claire, WI View the full article
