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Joann, the 81-year-old fabric and craft retailer, has filed for bankruptcy as it struggles with customers cutting back on discretionary spending.
The Joann fabrics and crafts company has filed for Chapter 11 bankruptcy, but says its stores and website remain in business.
Here's what we know about Joann's 2024 bankruptcy filing, as well as future plans: Is Joann fabrics filing for bankruptcy? Yes.
Jo-Ann Stores, LLC, more commonly known as Jo-Ann (stylized as JOANN), is an American haberdashery and mercery (specialty retailer of textiles and notions) based in Hudson, Ohio. It operates the retail chains JOANN Fabrics and Crafts and Jo-Ann Etc .
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The Hudson-based retailer Joann Inc. filed for bankruptcy Monday as it seeks to restructure and shed millions in debt. The company is expected to receive about $132 million in new financing and...