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Joann Fabrics and Crafts Files for Bankruptcy, Remains open for Business

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The Joann Fabrics and Crafts company recently filed for bankruptcy but said it will continue serving customers in stores and online.In its most recent quarter, Joann posted results showing it was more than $1 billion in debt, with shrinking revenues and a widening net loss, citing an “uncertain consumer environment.”

It is important to highlight that a key gauge of inflation jumped higher in February, which shows inflation has ramped up in recent months, a Breitbart News

 

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Joann fabrics stores, website to remain open after company files for bankruptcyJoann, the 81-year-old fabric and craft retailer, has filed for bankruptcy as it struggles with customers cutting back on discretionary spending.
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