Joann Fabrics and Crafts has filed for bankruptcy for a second time within a year and announced that it’s seeking a sale.
Joann Fabrics and Crafts has filed for bankruptcy for a second time within a year. -
the 82-year-old retailer announced in a statement Wednesday that “sluggish sales and inventory issues” forced the company to file for Chapter 11 again.as consumers cut back on spending and some pandemic-era hobbies, like crafting.Joann Fabrics is the latest to join a growing list of struggling brick-and-mortar stores that are unable to stay afloat in the current economic environment.
CNN points out in a report that the post-pandemic shopping boom has ended, and many businesses are heading on a “path to bankruptcy as normalcy returns to the retail industry.”Copyright 2025 Gray Local Media, Inc. All rights reserved. CNN contributed to this report.
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