Source: Axios
“Bankrupt arts and crafts retailer Joann will close all of its stores, after its restructuring plans faltered and a liquidator agreed to buy its assets. Joann had about 800 stores and 19,000 employees when it filed for Chapter 11 bankruptcy protection in January, including 15,600 part-time workers. The company had plans to shutter about 500 of its stores earlier this month, but those collapsed in recent days after liquidator GA Group won a bid to acquire substantially all of its assets. A final sale hearing to approve the liquidation sale is set for Wednesday, Feb. 26 in U.S. Bankruptcy Court for the District of Delaware.” (02/24/25)
https://www.axios.com/2025/02/24/joann-fabrics-closing-all-stores-bankruptcy