Reported about 16 hours ago
Joann, a fabric and crafts retailer, plans to close approximately 500 stores across the U.S. as part of its Chapter 11 bankruptcy proceedings for the second time in a year. The closures, affecting over half of its locations, are aimed at selling the business and addressing ongoing operational challenges, including diminished consumer demand and inventory shortages. The company is now seeking court approval for this downsizing strategy.
Source: YAHOO