Joann, a once popular craft chain, has filed for voluntary Chapter 11 bankruptcy proceedings, according to a an announcement. The filing, the release says, is to help "facilitate a sale process to ... The Daily Gazette: Joann Fabrics to close 500 stores amid Chapter 11 bankruptcy proceedings COLONIE—Joann Fabrics announced plans to close approximately 500 of its 800 stores nationwide—including its Northway Shopping Center location in Colonie—as part of its ongoing Chapter 11 bankruptcy ...

Understanding the Context

NBC Washington: Popular craft chain Joann files for Chapter 11 bankruptcy. Here's what that means Popular craft chain Joann files for Chapter 11 bankruptcy. Here's what that means FILE - People walk into and out of a Joann store, Sept. 6, 2007, in Garfield Heights, Ohio.

Key Insights

The fabric and crafts retailer has filed for Chapter 11 bankruptcy protection, as consumers continue to cut ... MSN: Joann Chapter 11 bankruptcy: List of all stores closing this month clickondetroit.com: Morning 4: Joann Fabrics closing all stores after second bankruptcy; where shoppers can go next -- and other news Morning 4: Joann Fabrics closing all stores after second bankruptcy; where shoppers can go next -- and other news Yahoo: Editorial: An ode to the joy of Jo-Ann Fabrics, or is that just Joann making its exit? Editorial: An ode to the joy of Jo-Ann Fabrics, or is that just Joann making its exit? Off-price department store Burlington is set to take over 45 store leases across the U.S. from Joann after the crafts and fabrics retailer filed for bankruptcy for a second time in January.

Final Thoughts

Burlington ...