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Fabric and arts retailer Joann becomes private company following bankruptcy filing

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Fabrics,Sewing,Arts

The company announced it had filed for bankruptcy in the middle of March with the expectation that it would re-emerge from the court-supervised process by the end of the following month.

Joann announced it would emerge from its bankruptcy as a privately-owned company.Updated: 34 minutes ago

The company filed for bankruptcy in the middle of March with the expectation that it would re-emerge from the court-supervised process by the end of the following month., Joann appears to be closely following its original plan and expects to be finished with the process in the next few days. In a statement, Chris DeiTullio, chief customer officer and co-lead of the interim office of the CEO, said the company is happy to have reached this milestone less than 40 days after the initial court filing.

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Joann Inc. to reorganize as private company after filing bankruptcyJoann Inc. announced this week that it expects to complete a reorganization plan soon that will allow it to emerge from bankruptcy as a private company.
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