Home Business Craft Retailer Joann Files for Bankruptcy Amid Economic Challenges

Craft Retailer Joann Files for Bankruptcy Amid Economic Challenges

by Sonia Park
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Craft Retailer Joann Files for Bankruptcy Amid Economic Challenges

Joann, a well-known fabric and craft retailer with over eight decades of history, has filed for bankruptcy, signaling economic challenges faced by businesses in the wake of the pandemic and shifting consumer behaviors.

The Ohio-based company announced its decision to file for Chapter 11 bankruptcy protection, revealing that it has secured $132 million in funding to address its debt issues. Despite this financial restructuring, Joann reassured customers that its nearly 850 stores across the country and its online platform will continue to operate without interruption.

https://youtu.be/v-WtZpaGDBc

Joann experienced. . .

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