Joann, the popular retailer for sewing and fabric supplies, has announced that it will become a privately owned company following its bankruptcy filing. The company filed for bankruptcy in March with the goal of emerging from the process by the end of the following month. In a recent release, Joann confirmed that it is on track to complete the process in the coming days and emphasized that its 800 store locations will remain open and fully stocked with supplies for all creative needs.
Chris DeiTullio, Joann’s chief customer officer, expressed gratitude for the support of team members, industry partners, landlords, and customers throughout the restructuring process. He stated that the company is now positioned with a solid financial foundation to invest in enhancing the customer experience and supporting its nationwide team members. Following the restructuring, Joann will be privately owned by financial stakeholders and industry parties.
The announcement comes as a positive development for Joann and its loyal customers, who can expect the same level of service and product offerings from the retailer. The company’s commitment to its team members and commitment to enhancing the customer experience demonstrate its dedication to maintaining its position as a leading provider of sewing and fabric supplies. With this milestone reached, Joann looks towards a bright future as a privately owned entity, ready to continue serving customers with high-quality products and exceptional service.
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