About a week after announcing it would close all of its stores amid a bankruptcy proceeding, leases owned by specialty arts and crafts retailer Joann Inc. are headed to the auction block.
There are 790 Joann leases nationwide that are now for sale, including more than a half-dozen in Connecticut, according to A&G Real Estate Partners, a real estate firm hired to perform the auction.
Joann, a well-known national chain that was in business for more than 80 years, filed for bankruptcy in January, and initially only planned to close about 500 of its 800 stores.
However, the company was recently purchased out of bankruptcy by liquidator GA Group, which subsequently announced it would close all of the retailer’s locations, including 10 in Connecticut.
A&G Real Estate Partners disclosed plans this week to sell off Joann leases via auction.
According to CoStar, which cited an A&G executive, the deadline for bids and the auction is expected to be in April.
According to CoStar, the Connecticut leases up for sale are located at:
- 1440 Pleasant Valley Road, Manchester
- 3105 Berlin Turnpike, Newington
- 774 Queen St., Southington
- 117 Salem Turnpike, Norwich
- 274 E. Main St., Clinton
- 2300 Dixwell Ave., Hamden
- 1405 Boston Post Road, Milford
- 143 Federal Road, Brookfield
- 39 South Main St., Torrington
- 136 Elm Street, Suite A, Enfield
