"Joann Inc. filed for Chapter 11 bankruptcy protection, resulting in the closure of 255 locations and the liquidation of all its stores across the U.S."
"Boots on the ground are often matched with e-commerce preferences, leading to Joann's decision to close its stores after financial struggles worsened."
Joann Inc., the popular fabrics and crafts retailer, is set to close all of its locations in the U.S. after filing for Chapter 11 bankruptcy for the second time in less than a year. This closure includes 255 stores shutting down in April as rising inflation and a shift to online shopping significantly impact the company's financial stability. Liquidation sales are currently underway, and while more than 500 stores remain open temporarily, the retail chain's future looks bleak following these closures.
Read at Fast Company
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