Burlington snags 45 of Joann’s store leases out of bankruptcy; off-price retailer is taking advantage of the craft company’s closure as new shopping center growth diminishes

  • 4/30/2025

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Dive Brief:
Through the craft retailer’s bankruptcy, Burlington will assume the leases of 45 Joann store locations, according to a court filing on Monday.
Burlington will take over the leases in May and June, with locations across the country in states such as California and Texas. 
The proposed cure amounts (typically the amount needed to make good on a defaulted loan or contract) for the locations range from $0 to over $50,000, and a few other locations will be taken over by companies including Hobby Lobby and Boot Barn.

Burlington Stores (NYSE: BURL)
Alan Eichberg | National Director, Real Estate

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