FThe retailer of Abric and craftsmanship Joann Inc., who has been a destination for generations of courtes, knitters and lovers of craft projects for over 80 years, has failed and closes all of his stores.
The announcement comes after the retailer based in Hudson, in Ohio, made a request for protection against the bankruptcy of chapter 11 in January, the second time in a year. He cited consumer demand and inventory shortages. As he took him out, he would keep all his stores open.
But earlier this month, Joann said he planned to close 500 stores – or more than half of his national footprint. The company said on Sunday that after a recent auction, the financial service company Ga Group, as well as the lenders of Joann’s mandate, were selected as a winning tenderer to “acquire almost all of Joann’s assets” and would start to reduce the operations of the company and to driving sales outside warehouse in all the stores of the stores.
The company said that in a question section of questions on its website devoted to its restructuring that stores, Joann.com and the mobile application will remain open and will operate when they were sales of activity.
The retailer said that the dates of store closings or the modifications to the website will be published as soon as possible, and she said that she expects her to take a “number of weeks to finish our final sales ».
Joann previously asked Chapter 11 in March 2024 and later became a private company. But after the operational challenges continued to accumulate, Joann again filed for bankruptcy in January.
“Joann Leadership, our Board of Directors, our legal advisers and partners made every possible effort to pursue a more favorable result that would maintain business in business,” said Joann in a statement published on his website. “We are committed to working constructively with the winning tenderer to ensure an ordered drop in operations which minimizes the impact on all our stakeholders.”
