Joann’s more than 800 U.S. stores are expected to remain open while the bankruptcy process unfolds.
WASHINGTON — For the second time in less than a year, crafting retailer Joann has announced plans to declare chapter 11 bankruptcy.
The company announced on Jan. 15 that it was seeking court approval in Delaware to begin the process of selling “substantially all of its assets,” according to a press release about the move.
Joann’s more than 800 U.S. stores are expected to remain open while the bankruptcy process unfolds, alongside the Joann website. Employees will continue to receive pay and benefits, the company said.
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