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Joann Fabrics to Close Six Locations Amid Bankruptcy Struggles

share-iconThursday, January 09 comment-icon1 week ago 10 views
News sources:
newsweekNEWSWEEK
Joann Fabrics to Close Six Locations Amid Bankruptcy Struggles

Credited from: NEWSWEEK

  • Joann Fabrics is set to close six stores across the U.S. after declaring Chapter 11 bankruptcy in March 2024.
  • The stores closing include locations in Burlington, Iowa; Owings Mills, Maryland; Holyoke, Massachusetts; and others.
  • Discounts of up to 90% off will be available as the closures approach, aimed at clearing out remaining inventory.
  • Retail analysts attribute these closures to decreased consumer demand and rising operational costs post-pandemic.
  • Experts suggest that retailers, including Joann, must innovate with digital strategies to adapt to evolving shopping habits.

For more details, visit the original article here.

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Atlas Winston

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