Major Businesses Closing in South Jersey While New Openings Bring Change to the Local Market

South Jersey’s business scene is going through a lot of changes right now.

Some well-known stores are shutting their doors, while others are just getting started.

And for foodies, there’s even something exciting to look forward to.

Here’s a full update on what’s happening with local businesses this week.

Joann Fabrics is Closing Several Stores in South Jersey

First up, if you’re someone who loves crafting or sewing, this news might be disappointing.

Joann Fabrics is closing 500 of its 800 stores across the country, including several in New Jersey.

This comes after the company filed for bankruptcy for the second time in a year, struggling with financial losses after the pandemic crafting boom faded.

Among the stores set to close are locations in Mount Laurel, Deptford, and Mays Landing, leaving Cherry Hill as the only remaining Joann Fabrics in the region.

The company hasn’t shared exact closing dates yet, but court documents confirm these locations are part of the shutdown.

During the pandemic, sales at Joann were booming because so many people were stuck at home and took up sewing, knitting, and crafting.

But as life returned to normal, demand dropped, and inflation made it harder for people to spend money on hobbies.

Joann even tried to stay afloat last year by securing $132 million in funding and cutting its debt by $505 million, but it wasn’t enough.

The Mount Laurel store, located at 66 Centerton Rd in the Centerton Square Shopping Center, will be one of many to close permanently.

If you’re someone who relies on Joann for supplies, now might be the time to stock up.

Castle Harbor Drive-In in Delran is Closing—But Maybe Not for Good

Now, one of Burlington County’s most cherished ice cream shops, Castle Harbor Drive-In, has served generations of customers.

It’s been around for generations, but unfortunately, the current owner, Jim Dapontes, has announced that he will not be reopening the shop this year.

But here’s the twist—Castle Harbor is now up for sale.

That means a new owner could step in and keep the ice cream shop running, or they could decide to take the space in a different direction.

The listing promotes the idea that a buyer could “take this restaurant to the next level, maximizing its potential and increasing profitability.”

For now, long-time Castle Harbor fans are left wondering what will happen next.

Will a new owner save the beloved ice cream shop, or will Delran have to say goodbye to this local favorite?

Only time will tell.

Five Below is Opening a New Store in Cherry Hill

Not all the business news this week is about stores closing—some are actually expanding!

Five Below, the discount retailer known for selling trendy items at affordable prices, is opening a brand-new location in Cherry Hill.

This new store, located in the Garden State Pavilions shopping center, will celebrate its grand opening this weekend.

Five Below sells a wide range of items, mostly priced between $1 and $5, including tech accessories, beauty products, home décor, and toys.

Cherry Hill already has one Five Below store at the Ellisburg Shopping Center, but this new location is even bigger at 9,535 square feet.

To make the grand opening extra fun, Five Below is giving free drawstring bags to customers on opening day.

And if you love free food, you’re in luck—they’ll be giving out free hot dogs (two per person) from 12 to 3 p.m. while supplies last.

Plus, there will be music, activities for kids, and prize giveaways.

If you want to check it out, here are the store hours:

• Monday-Saturday: 10 a.m. – 8 p.m.
• Sunday: 10 a.m. – 7 p.m.

The new Five Below is located at 2232 Marlton Pike W, across from Boot Barn, in the Garden State Pavilions.

Haddonfield Restaurant Week is Coming in March

Foodies have something to look forward to in early March—Haddonfield Restaurant Week is coming back.

During Restaurant Week, participating restaurants offer prix fixe menus, discounts, and special promotions.

Haddonfield is known for having one of the best dining scenes in South Jersey, so this event is expected to attract a large crowd.

If you love good food and great deals, make sure to mark your calendar.

More details, including participating restaurants, will be announced soon.

So, what does all of this mean for South Jersey shoppers and residents?

If you’re a Joann Fabrics fan, now’s the time to visit your local store before it’s gone.

If you loved Castle Harbor Drive-In, you might be hoping a new owner steps in to save it.

On the bright side, Five Below is bringing a new shopping option to Cherry Hill, and Haddonfield Restaurant Week will soon offer great dining deals.

Change is always happening in the business world—some places close, new ones open, and others adapt to keep up with shifting trends.

While some of these closures are disappointing, new opportunities are also popping up for shoppers, diners, and business owners in South Jersey.

No matter what, there’s always something happening, and it’s worth keeping an eye on how these changes affect the community in the next few months.