Burlington Snaps Up Two Joann Store Leases in SoCal

Burlington will cram coats and suits inside two closing Joann stores once stuffed with fabrics and arts-and-crafts supplies in Southern California.

The New Jersey-based apparel retailer once known as Burlington Coat Factory has taken over the leases of former Joann stores at 26583 Carl Boyer Drive in Santa Clarita and at 5885 Lincoln Avenue in Buena Park, L.A. Business First reported.

Terms of the leases with the unidentified landlords for each store were not disclosed.

In February, Joann announced it would pack up its yarns and paintbrushes at 500 stores across the U.S., including 31 stores slated to close across Southland and 10 in Los Angeles County.

Then the struggling firm announced it would close all of its 800-plus stores and auction the leases for 790 retail stores and five distribution centers.

The struggling crafts retailer based in Ohio decided to close the stores and head to auction after filing for Chapter 11 bankruptcy, the second time in a year. The reason for the closures: sluggish consumer demand and inventory shortages, according to the firm.

Burlington Coat Factory of Texas, Burlington Coat Factory of Kentucky and Burlington Coat Factory Warehouse are assuming the leases for 45 Joann stores across the U.S., according to lease assumption documents filed in bankruptcy court.

In Santa Clarita, Burlington inked a deal to take over the lease at Centre Pointe Village on June 1, paying a “cure amount” of $35,041, according to L.A. Business First.

In Buena Park, the firm will assume the lease at the same time with a cure amount of $58,234.

Burlington is also assuming Joann leases at several stores in Northern and Central California.

The company will also pick up Joann leases in 20 states, including Florida, Illinois, Nebraska, Colorado, Oregon, Arizona, Texas, Georgia, North Carolina, Utah, Kentucky, Ohio, South Carolina, Mississippi, New York, Wisconsin, Washington, Michigan, Massachusetts and New Mexico.

— Dana Bartholomew