The Peru Mall lost a large tenant in 2025.

In February, Jo-Ann Fabrics announced plans to close 500 of its 850 craft and fabric stores, which included the Peru location.

The closures were part of Jo-Ann’s ongoing Chapter 11 bankruptcy process.

In June, The Michaels Companies Inc. acquired Jo-Ann’s intellectual property and private label brands.

The Times / NewsTribune / Bureau County Republican is committed to keeping readers up to date with business happenings in the area. Much of our reporting relies on what we see and hear, but we’re also reaching out to readers for tips on business items. If you have a tip to share for Eyes on Enterprise, email newsroom@mywebtimes.com.