When the news first broke about the bankruptcy of Joann, a nationwide fabric and craft store, the location within Norriton Square shopping center in East Norriton was among those listed that would continue to operate. That has now changed and the company’s lease at 45 East Germantown Pike is among almost 800 locations set ot be auctioned off according to an article in The Philadelphia Business Journal.
The same company that recently handled the auctioning of Party City’s leases for its bankruptcy, A&G Real Estate Partners, is managing the process for Joann. The lease for the Party City location in Plymouth Meeting was acquired by Dollar Tree.
Joann’s stores are still open at offering discounted merchandise as it prepares to close.