Reported about 4 hours ago
Joann Inc., a long-standing fabric and craft retailer, is shutting down all its stores following its second Chapter 11 bankruptcy filing in a year due to low consumer demand and inventory issues. Despite earlier promises to keep stores open, Joann announced plans to close over half of its locations, with an auction winning bidder set to acquire its assets and initiate going-out-of-business sales. The retailer plans to operate its website and mobile app during the liquidation process, which is expected to take several weeks.
Source: YAHOO