Fabric and arts retailer Joann becomes private company following bankruptcy filing

– Joann, the largest retailer for sewing and fabric supplies, announced it will become a privately owned company in the aftermath of its bankruptcy filing.

The arts and crafts company also said its 800 store locations will remain open and continue to offer supplies “for any creative need.” “We could not have reached this point without the unwavering dedication of our team members, the continued support of our industry partners and landlords, and the tremendous loyalty and enthusiasm of our customers,” he said.

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Fabric and arts retailer Joann becomes private company following bankruptcy filingThe 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.
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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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