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In reply to the discussion: Joann Fabrics and Crafts files for Chapter 11 bankruptcy [View all]KT2000
(20,605 posts)55. They already did
from NYT: The private equity firm Leonard Green & Partners bought Joann for roughly $1.6 billion in 2011, and spun it off publicly in 2021. Joann's stock price initially climbed, but it began to tumble a few months later, and now trades for about 20 cents a share.
I guess they have cleaned out all the cash they could.
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I would never order fabric online. I want to feel and weigh it with my hands.
sinkingfeeling
Mar 19
#43
EXACTLY!!! My mom taught me how to sew from childhood and I LOVED Joann's...THAT being said
The_REAL_Ecumenist
Mar 19
#27