Yes, JOANN is closing all locations. And yes, they’re going to be hosting some epic going-out-of-business sales. But if you plan to take advantage of these bargains online, be very wary of what you click, as experts are warning of a new scam promoting fake JOANN sales.
RELATED: 7 Ways to Spot Fake Deals and Scams When Online Shopping.
JOANN is closing all 800 of its remaining locations—and holding going-out-of-business sales.
After first saying it would keep about 300 U.S. stores open amid bankruptcy filings, JOANN did an abrupt about-face last month when it announced it would be closing all 800 stores permanently.
The company’s restructuring website says that stores remain open as they conduct going-out-of-business sales.
“Customers will have the opportunity to purchase our assortment at special prices during the going-out-of-business sales and can continue to shop at JOANN stores, JOANN.com, or on the JOANN mobile app,” reads the site.
Scott Carpenter, CEO of GA Group’s Retail Solutions and Wholesale & Industrial Solutions teams (the financial firm handling JOANN’s liquidation), recently told the Akron Beacon Journal, part of the USA TODAY network, that most stores will remain open through May as sales continue.
Current discounts range from 10 to 40 percent off, with some holiday merchandise as much as 75 percent off, USA Today reports.
A new scam targets online JOANN shoppers.
Planning to shop these sales from the comfort of your own home? Be very careful before you click. The Better Business Bureau (BBB) warns that, in light of JOANN’s news, “scammers are wasting no time setting up fake going out of business and liquidation websites.”
According to the BBB, here’s how the scam works:
You see an online ad on social media for a JOANN “going-out-of-business” sale. You click on the ad, which takes you to a website that looks quite identical to the real JOANN website with the company’s real logo and images. There, you see that their merchandise is extremely discounted to 80-90% off. The products being sold are products that you are familiar with purchasing at JOANN, so the sale seems legitimate. As you start to add items to your cart, you may also be offered an additional promotional discount that brings prices down even more.
However, if you look closely, the URL is fake—joann-us.com, compared to the real joann.com. The goal of the scam is to collect your personal and financial information. (A similar scam occurred when Bed, Bath & Beyond announced it was going out of business.)
To protect yourself from this and similar scams, the BBB recommends taking the following precautionary steps:
- Take extra steps to confirm the website’s URL: “Often, the URL is either off by only a letter or two or it may add extra words that still look convincing.”
- Shop by going directly to the retailer’s website instead of clicking on social media or website ad links.
- Be skeptical of deals that sound too good to be true.
- Don’t use a debit card for online purchases: “If you accidentally purchase something from a fake website, your credit card company may allow you to contest the charge and get your money back.“
- When shopping online, never give personal information such as your social security number.
