By: Nicole Silberstein
Crafting retailer Joann expects to emerge from bankruptcy in the next few days, a little over one month after it first initiated a Chapter 11 restructuring plan on March 18, 2024. The U.S. Bankruptcy Court for the District of Delaware has approved the company’s reorganization and recapitalization plan, which includes commitments from its financial stakeholders and other parties for approximately $132 million in new financing.