Bankrupt craft retailer Joann will be closing all its stores, backtracking on a previous plan to keep some locations open. The company plans to sell the business to the highest bidder, a firm called GA Group, which said it would start going-out-of-business sales at all...
Crafts chain Joann is seeking bankruptcy protection for the second time in under a year. Saddled with declining sales, the company had $615.7 million in funded debt obligations as well as $133 million of trade debt due and outstanding, Bloomberg News reported Wednesday (Jan. 15), citing bankruptcy court filings....
Consumers are cutting back on nice-to-haves like craft supplies, and even when they do buy these items, they are increasingly choosing retail giants such as Amazon, leaving arts stores in the lurch. Craft retailer Joann announced Thursday (April 25) its emergence from bankruptcy, keeping its stores open, now to operate as...
U.K. and U.S. retailers are reportedly finding that deep discounts aren’t enough to woo consumers. “Even the strongest and highest profile brands up and down the country are struggling,” said Julie Palmer, a partner at British consulting firm Begbies Traynor Group, told Bloomberg News in an interview published Sunday...
April 01, 2020
How can I help? It is the question that millions of Americans have been asking themselves for the last few weeks, as COVID-19, the disease caused by the coronavirus, has engulfed the U.S. For some — medical workers, public health officials, Instacart shoppers and other essential services providers — the answer is obvious. They help […]
June 26, 2025
Crafts retailer Michaels reportedly saw a 2.3% increase in same-store sales in the quarter ended May 1. In a private report to its debtholders, the company attributed the increase in part to the business it gained from customers who had previously gone to stores closed by retailers Party City and Joann, The Wall Street Journal […]
February 24, 2025
Bankrupt craft retailer Joann will be closing all its stores, backtracking on a previous plan to keep some locations open. The company plans to sell the business to the highest...
January 15, 2025
Crafts chain Joann is seeking bankruptcy protection for the second time in under a year. Saddled with declining sales, the company had $615.7 million in funded debt obligations as well as $133...
March 24, 2024
U.K. and U.S. retailers are reportedly finding that deep discounts aren’t enough to woo consumers. “Even the strongest and highest profile brands up and down the country are struggling,” said Julie Palmer, a...