March 18, 2024 | Major fabric and craft retailer Joann announced Monday that it was filing for bankruptcy as consumers pull back on spending due to harsh economic conditions. The retailer recently reached an agreement with a majority of its financial stakeholders as well as other financing parties, giving the company around $132 million in new financing while also reducing the debt on the company’s balance sheet by around $505 million, according to an announcement from Joann. Retail sales across the U.S. economy have continued to slump in recent months, growing just 0.6 percent month-to-month in February, not including inflation, and declining 1.1 percent in January as consumers pull back on non-essentials as prices rise.
Crafts retailer Joann files for Chapter 11 bankruptcy as consumers cut back on pandemic-era hobbies – Macomb Daily
Fabrics retailer Joann files for bankruptcy
Say It Ain't SEW! Will Joann Fabrics Stores Close?
Bankruptcy fears for major home good store with 1k locations nationwide as it moves up high on danger list
Politics The Ohio Star
JOANN Fabric facing financial uncertainty
12105718 - Fabric and crafts retailer Joann files for bankruptcySearch
Crafts retailer JOANN files for bankruptcy protections
President Biden
Music Spotlight: Darci Lynne
Fashion designer from Shreveport speaks out after JOANN files for
Joann arts and crafts retailer files for bankruptcy; stores will remain open : NPR
Joann Fabrics has filed for bankruptcy. What will happen to the North Dartmouth store?
Music Spotlight: Darci Lynne
