Joann to close all its fabric and craft stores amid bankruptcy
Joann has announced its plans to shut down all its fabric and craft stores following a bankruptcy filing in January. In a statement released on Sunday, the company confirmed that GA Group, along with the Prepetition Term Loan Agent, has been chosen as the winning bidder to acquire nearly all of Joann's assets.
Joann, the retailer known for selling fabrics and crafts for the last 82 years, has filed for bankruptcy and says it is ...
Calling it "the best outcome the economics will support," U.S. Bankruptcy Court Judge Craig Goldblatt on Wednesday approved ...
We are committed to working constructively with the winning bidder to ensure an orderly wind-down of operations that ...
The crafts retailer recently auctioned most of its assets off to the GA Group, which plans to wind down operations.
"We will help you close these stores with empathy, professionalism and efficiency," the CEO of the winning bidder said.
Term loans are payments of lump upfront cash sums to borrowers who agree to specific terms, such as following a repayment ...
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