Jo-Ann Fabrics and Crafts and its affiliates have filed for bankruptcy in the United States Bankruptcy Court for the District of Delaware.
Jo-Ann Fabrics indicated in a press release that the bankruptcy will enable it to strengthen the company’s financial position, and that Jo-Ann Fabrics has secured commitments for financing such that it expects to be able to pay all obligations to employees, vendors, and landlords in the ordinary course of business. The Chapter 11 bankruptcy will be expedited, with Jo-Ann Fabrics seeking to complete the process as early as April 2024.
Wolfson Bolton Kochis PLLC attorneys have significant experience representing landlords in large retail bankruptcies like the bankruptcy of Jo-Ann Fabrics. Please contact Scott A. Wolfson (swolfson@wolfsonbolton.com; 248-247-7103) with any questions.
