Crafts retailer JOANN files for bankruptcy

Sharing is Caring!

(WJET/WFXP) — Crafts retailer JOANN filed for Chapter 11 bankruptcy early Monday morning. The company, with over 800 stores nationwide, is best known for selling craft supplies, home decor and sewing supplies.

See also  China Files WTO Complaint Over US Electric-Vehicle Subsidies

The filing allows JOANN to continue to operate while it repays its debts, meaning no stores or online shopping is expected to be affected by the filing, according to a press release. Additionally, any obligations to employees, vendors, landlords and other trade creditors will be paid or otherwise satisfied in full.

www.msn.com/en-us/money/companies/crafts-retailer-joann-files-for-bankruptcy/ar-BB1k5TuZ?ocid=msedgntp&pc=U531&cvid=2d3055f93e504196bb70369993399560&ei=87

See also  Personal bankruptcy filing rates are hovering over multi-decade lows
Views: 55

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.