Reported 1 day ago
Joann Inc., the crafts retailer that recently exited bankruptcy, is engaging advisers to strengthen its financial position and alleviate liquidity issues, having struggled with a decline in sales after the pandemic. The company is working with Centerview Partners and Kirkland & Ellis while its lenders collaborate with Gibson Dunn & Crutcher, amidst a trend of financial difficulties for several retailers facing reduced consumer spending due to rising interest rates.
Source: YAHOO