Craft and fabrics retailer Joann, which has been in business for the past 80 years, announced it is closing all 800 of its stores in 49 states and going out of business following a period of financial turmoil and low sales.
The company has 19,000 employees, 15,600 of whom are part-time.
Joann filed for bankruptcy in March 2024, going from a publicly traded company to a private one while reporting between $1 billion and $10 billion in debt. The company filed for bankruptcy again earlier this year, then stated that it would close 500 of its locations and keep about 300 open as it tried, and failed, to find a buyer
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