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Crafts retailer JOANN files for bankruptcy

Joann files for Chapter 11 bankruptcy, reducing debt by half to $1 billion.
Revenue decline due to cut-back on discretionary spending by customers.
Expected to emerge from bankruptcy as privately owned by lenders and industry parties.

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Joann Fabrics is filing for Chapter 11 Bankruptcy to try and reduce $505M in funded debt

Joann Fabrics, a fabrics and crafts retailer that has been in business for 81 years, announced Monday that it filed for Chapter 11 Bankruptcy.

1 year ago·New Jersey, United States

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Just the News

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Fabrics and crafts retailer Joann files for bankruptcy

The decision comes after the retailer saw a temporary boom in sales early in the COVID-19 pandemic.

1 year ago·Washington, United States

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The Dallas Express News

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Ohio-based retailer Joann files for bankruptcy amid debt struggle, market shifts

Drowning in loans, Ohio-based retailer Joann has filed for bankruptcy. Unable to keep up with its debt obligations, the retailer, which maintains 850 stores and an online site, is expected to complete bankruptcy restructuring as early as April. According to the company, its storefronts and online shop will continue operating as normal. Joann will be delisted from public markets and taken under private ownership following the restructuring. As of…

1 year ago

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The Business Journals

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Fabric and crafts store Joann officially files for Chapter 11 bankruptcy

Joann, a fabric and crafts retailer with more than 800 stores across the U.S. and more than 20 in Massachusetts, filed for Chapter 11 bankruptcy on Monday.

1 year ago·United States

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New Hampshire Union Leader

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Joann files for Chapter 11 bankruptcy; says it will keep stores open and hand reins to lenders

HUDSON, Ohio — Fabrics and crafts retailer Joann filed for Chapter 11 bankruptcy protection Monday and plans to cut $500 million of debt by handing over ownership of the company to its lenders.

1 year ago·New Hampshire, United States

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Knox News

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Joann, fabric and crafts retailer, files for bankruptcy. What Tennessee shoppers should know

Craft and fabric retailer Joann filed for Chapter 11 bankruptcy, according to the company. Here's what is happening and how TN stores will be affected.

1 year ago·Nashville, United States

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