JOANN Files Chapter 11 Bankruptcy (IT'S OFFICIAL!)

*BREAKING NEWS! 🚨 JOANN has initiated Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware*
- Expedited process expected to be complete as early as late April
- Following this process, JOANN is expected to become a private company owned by some lenders and industry parties (no longer publicly traded)
- JOANN has secured commitments for about $132 million in new financing and related financial accommodations
- Expected to reduce funded debt by $505 million
- Store and online operation will remain normal during the restructuring process under current leadership team

Read more here:
https://www.joannforward.com/
https://cases.ra.kroll.com/Joann/
https://investors.joann.com/news-releases/news-release-details/joann-enters-agreement-reduce-debt-and-receive-132-million-new/
https://finance.yahoo.com/news/joann-enters-agreement-reduce-debt-043700511.html
https://www.fastcompany.com/91062616/joann-fabrics-stores-closing-bankruptcy-stock-delist
https://news.bloomberglaw.com/bankruptcy-law/joann-sees-chapter-11-bankruptcy-complete-as-early-as-late-april
https://www.streetinsider.com/Corporate+News/JOANN+Inc+%28JOAN%29+Enters+Agreement+to+Reduce+Debt+and+Receive+%24132+Mln+in+New+Capital/22941166.html

Join Jen from the Sewing Report LIVE in Florida ☀️🌴 to get sewing news, chat & have fun! 🧵
I wear sweatpants 99% of the time and have too many sewing machines

Shop supplies in my Etsy store 🛍️ https://sewingreport.etsy.com

Panasonic 360 Freestyle Cordless Iron
https://amzn.to/3SPLLhe

DISCLAIMER: This video and description contains affiliate links for several different programs. As an Amazon Associate I earn from qualifying purchases.

MY SEWING MACHINES:
Brother CS7000i Computerized 70 Stitch Sewing Machine
https://amzn.to/2Uufnoc
Brother PE800 Embroidery Machine
https://amzn.to/2WrssjE
Brother PE900 Embroidery Machine
https://amzn.to/3WKKZ5H
Brother 1034D Serger - http://amzn.to/1FNpsxo
Juki DDL 8700 Industrial Straight Stitch Machine w/Servo Motor
https://amzn.to/3rruyi4
Janome MemoryCraft 7700 Sewing Machine

SewTites Magnetic Sewing Products 🧲 get 15% off your order with coupon code SEWINGREPORT
https://www.sewtites.com/?ref=c6e1uc9g
Expressions Vinyl - cheap HTV, adhesive, craft vinyl
https://shareasale.com/r.cfm?b=471254&u=1104060&m=46676&urllink=&afftrack=0
Purchase scrapbooking supplies from the Scrapbook.com superstore!
https://shareasale.com/r.cfm?b=33184&u=1104060&m=7429&urllink=&afftrack=
Shop Sulky Thread & Embroidery products 🧵
https://shareasale.com/r.cfm?b=820197&u=1104060&m=63058&urllink=&afftrack=
Get $10 off coupon for your first order at Fabric Wholesale Direct
https://fabricwholesaledirect.com/a/rewards/r/588fe2fb

📱 Talk to me: @sewingreport
TikTok: https://vm.tiktok.com/9dF7K1/
Facebook: https://www.facebook.com/sewingreport
Instagram: http://instagram.com/sewingreport
Pinterest: https://www.pinterest.com/SewingReport/

Free products ≠ guaranteed coverage, companies/brands don't get editorial input on content. I don't do paid product/service reviews.
https://wp.me/P7ePxp-F (Please read my business policies before reaching out)

All content provided on Sewing Report channel/social media platforms is for informational/entertainment purposes only. The owner of Sewing Report makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site.
The owner of Sewing Report will not be liable for any errors or omissions in this information nor for the availability of this information. The owner will not be liable for any losses, injuries, or damages from the display or use of this information.