Popular crafts retailer to emerge from bankruptcy as private company

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Bankruptcies,Joann-Fabrics

The company had filed for bankruptcy on March 18.

Last month, the company filed for bankruptcy and its more than 800 store locations remained open throughout the process.

JoAnn had filed for bankruptcy with $2.4 billion in debt, the company said in a bankruptcy document. As it emerges from bankruptcy, JoAnn will be a private company owned by some of the company’s financial stakeholders and industry parties.

 

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