News Formal

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

  • 📰 BreitbartNews
  • ⏱ Reading Time:
  • 9 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Source of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.

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

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 610. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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.
Source: ABC7NY - 🏆 592. / 51 Read more »