“joann fabrics – have they filed bankruptcy”?
Question by Linda W: “joann fabrics – have they filed bankruptcy”?
I went on a sewing retreat this past weekend, and two people said that Joann Fabrics has filed some type of bankruptcy proceedings. Our Hancock Store is closing and if Joann closes, we will have nothing left but Walmart.
Is it true about bankruptcy filing (whether it’s Chapter 11 or Chapter 13) about Joanne Fabrics??
Best answer:
Answer by GREG S
No. The local articles say that hundreds of Mississippi residents are expected to lose their jobs over the Hancock reorganization bankruptcy. I also see that House of Fabrics and Piece Goods Shops went through bk, and that may be where the confusion comes in. Most of those were branded as Joann.
In fact, Joann is the number 1 now, had a great result in March, and has retooled successfully with superstores and an emphasis on hobby and craft sewing, rather than “serious needs” sewing by Americans.
What do you think? Answer below!
