Beloved retailer in Chapter 11 bankruptcy angers customers
The retail chain has just made a move that infuriated its loyal customer base.
Joann, a popular fabric retail chain founded in 1943, has had a rough few months.
The company filed for Chapter 11 bankruptcy in January, claiming it had accumulated $615.7 million in debt. This form of bankruptcy allows a company to restructure its finances and assets under court supervision as it explores different options that will help improve its financial standing.
