(FOX BUSINESS) – Joann Inc., the Ohio-based fabric and craft retailer, has filed for Chapter 11 bankruptcy protection after 81 years in business.
The company made the announcement Monday, adding it could become privately owned as soon as next month.
Joann Fabrics and Crafts stores and website will remain open and continue operating as normal, according to a press release.
“There is no other retailer with the same ability to serve sewists, quilters, crocheters, crafters and other creative enthusiasts as we have for the past 80 years, and we take great pride in seeing the passion and engagement of our millions of customers and our Team Members,” Chris DiTullio, chief customer officer and co-lead.
CLICK HERE TO READ FULL ARTICLE ON FOX BUSINESS
The post Joann Fabrics and Crafts File for Chapter 11 Bankruptcy After 81 Years in Business appeared first on Space Coast Daily.