Joann files for bankruptcy as anticipated [Seeking Alpha]
JOANN, Inc. - common stock (JOAN)
Company Research
Source: Seeking Alpha
The Hudson, Ohio-based company said that it expected to emerge from bankruptcy as early as the end of next month. Following this process, the retailer will likely become privately-owned by certain lenders and industry parties. Joann's ( JOAN ) more than 800 stores and its website will continue to operate normally during the bankruptcy process. Vendors, landlords and other trade creditors are not anticipated to see any pay disruptions. In addition to the bankruptcy filing, Joann ( JOAN ) disclosed that it had received about $132M in new financing and expected to reduce its balance sheet's funded debt by about $505M. Joann ( JOAN ) listed more than $2.44B in total debts and about $2.26B in total assets in Monday's Chapter 11 petition, which was filed in Delaware. "Over the past several months, JOANN has made meaningful business improvements through the execution of our Focus, Simplify and Grow cost reduction initiative," statted said Chris DiTullio, Chief Customer Officer and co-le
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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