POPULAR CRAFT CHAIN JOANN FILES FOR CHAPTER 11 BANKRUPTCY
NEWS Desk Global
Joann, a once popular craft chain, has filed for voluntary Chapter 11 bankruptcy proceedings, according to a an announcement. The filing, the release says, is to help "facilitate a sale process to maximize the value of the business."
It's the second time in two years the Ohio-based chain, which describes itself as "the nation’s category leader in sewing and fabrics with one of the largest arts and crafts offerings," has filed for bankruptcy.
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