Joann fabrics stores, website to remain open after company files for bankruptcy

  • 📰 ABC7NY
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

Deutschland Nachrichten Nachrichten

Deutschland Neuesten Nachrichten,Deutschland Schlagzeilen

Joann, the 81-year-old fabric and craft retailer, has filed for bankruptcy as it struggles with customers cutting back on discretionary spending.

Live streaming newscasts, breaking news, weather & original, local programming.

Joann's revenue has been on the decline in recent years, except for a brief pandemic boom during the height of Covid when people stuck at home spent more money on arts and crafts. However, that has since faded, and inflation has soared, prompting customers to spend less on non-essential items. Joann's stock was delisted from the Nasdaq and will become privately owned following the bankruptcy process, which it expects to happen as fast as next month.

 

Vielen Dank für Ihren Kommentar.Ihr Kommentar wird nach Prüfung veröffentlicht.
Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

 /  🏆 592. in DE

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen