Fabric and craft retailer Joann to go out of business and close all 850 stores
The crafts retailer said Sunday that financial services company GA Group and lenders will “acquire substantially all of Joann's assets” and would begin winding down the company’s operations and conduct going-out-of-business sales at all store locations.
Joann to close all its fabric and craft stores amid bankruptcy
Joann has announced its plans to shut down all its fabric and craft stores following a bankruptcy filing in January. In a statement released on Sunday, the company confirmed that GA Group, along with the Prepetition Term Loan Agent, has been chosen as the winning bidder to acquire nearly all of Joann's assets.
A group of term loan lenders, along with GA Group, a liquidation firm backed by Oaktree Capital Management, won an auction to ...
Fabric and crafts retailer Joann Inc., which has been a destination for generations of quilters, knitters and other lovers of ...
Term loans are payments of lump upfront cash sums to borrowers who agree to specific terms, such as following a repayment ...
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