Consumer
Bankrupt Joann Approved to Shut 500 Stores, Begin Closing Sales
- Bankruptcy judge approves request for initial store closures
- Creditors, company feud over Gordon Brothers’ takeover bid
Bankrupt crafts and fabric retailer Joann Inc. is set to begin final sales and closing stores after obtaining court approval on Friday.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Bankrupt crafts and fabric retailer Joann Inc. is set to begin final sales and closing stores after obtaining court approval on Friday.
Judge Craig T. Goldblatt said he’d enter an order for the closings at a bankruptcy court hearing. The order lists over 500 locations in the “initial closing stores” and authorizes Joann to liquidate more stores free and clear of all liens and claims.