Fabric Store
Jo-Ann Stores, Inc.Information and Alerts
Service Area
- USA
Alert Details
This business has 2 alerts.
Out-of-Business known or suspected
Chapter 11 process, on February 23, 2025 JOANN made the following announcement: For more information on the operating status please visit https://www.joannrestructuring.com/
"The following may be attributed to ‘JOANN’ or ‘a spokesperson for JOANN’:
“Following a comprehensive sale process and auction, GA Group together with the Prepetition Term Loan Agent, has been selected as the winning bidder to acquire substantially all of JOANN’s assets. In connection with this agreement, subject to Bankruptcy Court approval of the transaction, the winning bidders plan to begin winding down the Company's operations and conduct going-out-of-business sales at all store locations.
JOANN leadership, our Board, advisors and legal partners made every possible effort to pursue a more favorable outcome that would keep the company in business. We are committed to working constructively with the winning bidder to ensure an orderly wind-down of operations that minimizes the impact on all our stakeholders. We deeply appreciate our dedicated Team Members, our customers and communities across the nation for their unwavering support for more than 80 years.”
Case information, including the complete docket and how to file a claim, can be found at https://cases.ra.kroll.com/Joann2025/Home-Index.
As part of the Court approved sale, JOANN is unable to accept gift cards, coupons, returns, price matching or discounts after February 28, 2025 (See, Docket. #s 486, 486-1). Customers with gift card balances after that date are able to file a claim for such amounts in the Debtors’ bankruptcy cases for reimbursement in the bankruptcy court (See, link above).
Bankruptcy
On 01/15/2025, the business filed for reorganization under Chapter 11 of the federal Bankruptcy Act, case# 25-10068. This permits the business to continue to operate with court supervision while developing a plan of reorganization. Those with monetary claims against the business are advised to obtain a Proof of Claim form by writing to United States Bankruptcy Court for the District of: Delaware 824 N Market St # 500 Wilmington DE 19801 for resubmission to that court.
The case number should be entered on the form. Claims must be submitted by 01/15/2025
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