I think we’d want to differentiate between franchises and owned-and-operated stores. When a franchiser goes under, successful franchisees often continue doing business under a different name or even the same name, depending on the franchising agreement. That’s how there’s still one Blockbuster left in Bend, Oregon. We would want to be careful about declaring the demise of every single store.
But as far as I know, the entire Jo-Ann chain was O&Os, so they are all indeed closed. It’s still possible that whoever purchased Jo-Ann’s assets, or whoever previously leased many storefronts out to Jo-Ann, might attempt to reopen some of them as fabric stores, but that would be pure conjecture at this point.