None of the company’s more than 800 U.S. stores are expected to be affected by the bankruptcy, and will remain open alongside the Joann website.
WASHINGTON — Joann’s stock was delisted from the Nasdaq and will become privately owned following the bankruptcy process, which it expects to happen as fast as next month.
Fabric and crafts retailer Joann has filed for Chapter 11 bankruptcy as the company prepares for a restructuring that will remove it from the stock market as it struggles to retain customers.
In a statement released Monday, the 81-year-old company said it had secured $132 million in funding meant to cut
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