Reported about 16 hours ago
Joann Inc., the fabric and crafts retailer that just emerged from bankruptcy last year, is considering filing for bankruptcy again due to dwindling cash reserves. A decision could come as soon as this month, with the company also exploring options for a potential sale or raising additional capital. Recent lender requests for reserves and a decline in inventory value are contributing factors. The company, which has struggled post-pandemic, is among many retailers facing challenges from consumer spending cuts.
Source: YAHOO