This is the second nationwide event in less than a year. sewing, art And the craft retailer is seeking bankruptcy protection.
Joan filed for Chapter 11 bankruptcy protection. In the United States Bankruptcy Court for the District of Delaware. promote The sale process is “to maximize the value of the business,” according to the release. Joanne is seeking to sell the following items: virtually everything Gordon Brothers Retail Partners acted as the “stalking horse” bidder and sold some of the assets. Gordon Brothers recently completed a sale large transaction.
Joann’s store and website will remain open as usual during the sales process. retailer it works We have more than 800 stores in 49 states.
Joan previously filed for bankruptcy in March 2024. bankrupt restructuringJoan’s creditors agreed to cancel the company’s approximately $505 million. almost $1.1 billion I have long-term debt. No stores were closed due to restructuring.
Upon emerging from bankruptcy, Joan became a private company owned by some creditors.
