Published 03/18/2024 2:48:00 p.m.

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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Associated Press News

Crafts Retailer Joann Files for Chapter 11 Bankruptcy As Consumers Cut Back on Pandemic-Era Hobbies

Fabric and crafts retailer Joann has filed for Chapter 11 bankruptcy protection, as consumers continue to cut back on discretionary spending and pandemic-era hobbies.

03/18/2024 2:09:04 p.m.·United States

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USA Today

Fabric and crafts retailer Joann files for Chapter 11 bankruptcy protection: What to know

The fabric and crafts retailer filed Monday for Chapter 11 bankruptcy protection. Here's what that means for the company and its 850 stores.

03/18/2024 2:56:29 p.m.·United States

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abc News

Crafts retailer Joann files for Chapter 11 bankruptcy protection

Fabric and crafts retailer Joann has filed for Chapter 11 bankruptcy protection, as consumers continue to cut back on discretionary spending

03/18/2024 2:09:03 p.m.·United States

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CNN

Fabrics retailer Joann files for bankruptcy

Joann, the 81-year-old fabric and craft retailer, has filed for bankruptcy as it struggles with customers cutting back on discretionary spending.

03/18/2024 12:06:50 p.m.·Atlanta, United States

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KIFI

Fabrics retailer Joann files for bankruptcy

By Jordan Valinsky, CNN New York (CNN) — Joann, the 81-year-old fabric and craft retailer, has filed for bankruptcy as it struggles with customers cutting back on discretionary spending. In a statement Monday, the Ohio-based company said it filed for Chapter 11 bankruptcy protection and has secured $132 million in fresh funding that helps reduce its debt in half, which had ballooned to $1 billion. Its roughly 850 stores and website will remain o…

03/18/2024 12:06:50 p.m.·Idaho Falls, United States

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KRDO

Crafts retailer Joann files for Chapter 11 bankruptcy protection

NEW YORK (AP) — Fabric and crafts retailer Joann has filed for Chapter 11 bankruptcy protection, as consumers continue to cut back on discretionary spending. In a Monday release, the Hudson, Ohio-based company said that it expected to emerge from bankruptcy as early as the end of next month. Following this process, Joann will likley become privately-owned by certain lenders and industry parties, the company added — meaning its shares would no lo…

03/18/2024 2:09:04 p.m.·Colorado Springs, United States

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