South Jersey’s business scene is undergoing significant changes. While some familiar stores are closing their doors, new ones are popping up, offering fresh opportunities.
For foodies, there’s something exciting on the horizon as well. Here’s the latest update on local businesses this week.
Joann Fabrics Closing Several South Jersey Locations
If you’re a crafter or sewer, this news might be a disappointment. Joann Fabrics is closing 500 of its 800 stores nationwide, including locations in Mount Laurel, Deptford, and Mays Landing. The Cherry Hill store will remain the only one in the region.
The closures come after the company filed for bankruptcy for the second time in a year, struggling to recover from financial losses as the pandemic crafting boom faded. Joann saw a surge in sales during the pandemic as many people took up hobbies like sewing, but demand dropped as life returned to normal.
For more information about South Jersey retail space, or other New Jersey and Philadelphia commercial properties, please call 856-857-6300.
Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier South Jersey commercial real estate brokerage firm that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.
