Hudson-based Joann comes out of bankruptcy clevelandjewishnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from clevelandjewishnews.com Daily Mail and Mail on Sunday newspapers.
JOANN has successfully emerged from its court-supervised financial restructuring process, and has substantially reduced its funded debt by half while further enhancing its liquidity through a $153 million exit financing facility that replaces the previously announced debtor-in-possession financing. The prepackaged Chapter 11 plan was supported by.
The company's more than 800 stores, and its 18,000 employees nationwide, will be preserved after the company filed for Chapter 11 bankruptcy protection in March.