The Ohio-based chain will be delisted after the bankruptcy proceedings and be privately owned by “certain of its lenders and industry parties,” it said.
Fabric and crafts retailer Joann, which operates four stores in the San Antonio metro area, filed Monday for Chapter 11 bankruptcy protection, unable to sustain its debt load after a sales boom during pandemic lockdowns faded. Hudson, Ohio-based Joann Inc. said it expects to emerge from bankruptcy as early as the end of next month.
Tuesday Morning joins Bed Bath & Beyond in closing its stores and having discount sales Like many of its retail peers, Joann has been contending with changing consumer shopping habits and years of declining revenues. The pandemic was a brief bright spot for the company, as cooped-up consumers boosted spending on at-home activities like crafting. But, along with companies including Bed Bath & Beyond and Tuesday Morning, which both shut down last year, it has struggled since.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Joann Fabrics files for Chapter 11 bankruptcyRob Wile is a breaking business news reporter for NBC News Digital.
Les mer »
Joann fabrics stores, website to remain open after company files for bankruptcyJoann, the 81-year-old fabric and craft retailer, has filed for bankruptcy as it struggles with customers cutting back on discretionary spending.
Les mer »
Joann, the fabrics and crafts chain, files for bankruptcyJoann, the iconic fabrics and crafts retailer, has filed for bankruptcy protection but plans to keep its stores and website open as it refinances.
Les mer »
Fabrics and crafts retailer Joann filed for bankruptcyThe Ohio-based retailer said it expects to complete the restructuring as early as next month. Joann’s 850 stores and online business will continue to operate...
Les mer »
Joann files for Chapter 11 bankruptcyFabric 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.
Les mer »
Crafts retailer Joann files for Chapter 11 bankruptcy protectionFabric and crafts retailer Joann has filed for Chapter 11 bankruptcy protection, as consumers continue to cut back on discretionary spending.
Les mer »