JOANN Fabric and Crafts shutting down [Yahoo! Finance]
JOANN, Inc. - common stock (JOAN)
Company Research
Source: Yahoo! Finance
According to Bloomberg, JOANN Inc. is in talks with lenders to enter Chapter 11 bankruptcy to shed debt. JOANN closed stores in Wooster and Zanesville earlier this year. If JOANN files for bankruptcy, legal experts say the company's day-to-day operations from a customer perspective should be business as usual, according to Akron Beacon Journal. The purpose of such filings are to get a retailer's financial house in order to restructure debt to be able to save the core business operations. "In alignment with standard brick-and-mortar business processes, Joann closes stores occasionally while simultaneously investing in, and operating brand-new stores to best meet the needs of our customers," said Public Relations Manager Shauntina Lilly. Customers are sad to see the store go. "We go in there to shop for all of the wreaths, crafts, everything," said Kingsville resident Cindy Gaines. "I'm just really sad that this mall is losing another store. I've been shopping there since the
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JOAN
News
- Gordon Brothers Provides $100M Exit Facility Commitment as Agent for Jo-Ann Stores [Yahoo! Finance]Yahoo! Finance
- Opinion: America briefly rediscovered a love of sewing. It wasn't enough to rescue Joann Fabrics [CNN]CNN
- Opinion: America briefly rediscovered a love of sewing. It wasn't enough to rescue Joann Fabrics [CNN]CNN
- News Quiz: March 22, 2024 [FOX News]FOX News
- The Daily Money: Catch solar eclipse from the sky? [USA TODAY]USA TODAY
JOAN
Earnings
- 12/4/23 - Beat
JOAN
Sec Filings
- 3/22/24 - Form 8-K
- 3/18/24 - Form 8-K
- 3/15/24 - Form 3
- JOAN's page on the SEC website