Joann Fabrics News 2024 Update. (“joann” or the “company”), the nation’s category leader in sewing and fabrics with one of the largest arts and. Thursday afternoon said a federal judge has approved its plan to reorganize, remain in business and operate as a private.
Joann expects to complete its financial restructuring and emerge from bankruptcy “in the coming days,” the craft and sewing retailer said in a thursday announcement. Bankruptcy judge’s approval on thursday for a restructuring that would eliminate $505 million in debt and keep all 815 retail locations open.
