DIRS.INFO top alerts submit data jurnalism about API
login
Top related persons:
Joann - 2 Scott Sekella - 2 Leonard Green - 1 New York CNN — Joann - 1 ” - 1 Neil Saunders - 1 “ - 1 ” Saunders - 1
Top related locs:
Hudson , Ohio Delaware New York Ohio
Top related orgs:
Bankruptcy - 1 Monday's - 1 Leonard Green & Partners - 1 & $ - 1 New - 1 New York CNN - 1 Nasdaq - 1 GlobalData - 1

Search resuls for: "Scott Sekella"


2 mentions found


☆ Crafts Retailer Joann Files for Chapter 11 Bankruptcy Protection
  + stars: | 2024-03-18 | by ( Associated Press | March | At A.M. | ) www.usnews.com   time to read: +1 min
NEW YORK (AP) — Fabric and crafts retailer Joann has filed for Chapter 11 bankruptcy protection, as consumers continue to cut back on discretionary spending. In a Monday release, the Hudson, Ohio-based company said that it expected to emerge from bankruptcy as early as the end of next month. Following this process, Joann will likely become privately-owned by certain lenders and industry parties, the company added — meaning its shares would no longer be publicly traded on stock exchanges. Joann's more than 800 stores and its website will continue to operate normally during the bankruptcy process. A decade later Joann, still majority owned by Leonard Green & Partners, went public in an initial public offering at $12 a share.
Persons: Joann, Scott Sekella, Leonard Green Organizations: Bankruptcy, Monday's, Leonard Green & Partners, & $ Locations: Hudson , Ohio, Delaware
☆ Fabrics retailer Joann files for bankruptcy
  + stars: | 2024-03-18 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +2 min
New York CNN —Joann, the 81-year-old fabric and craft retailer, has filed for bankruptcy as it struggles with customers cutting back on discretionary spending. In a statement Monday, the Ohio-based company said it filed for Chapter 11 bankruptcy protection and has secured $132 million in fresh funding that helps reduce its debt in half, which had ballooned to $1 billion. However, that has since faded, and inflation has soared, prompting customers to spend less on non-essential items. Joann’s stock was delisted from the Nasdaq and will become privately owned following the bankruptcy process, which it expects to happen as fast as next month. “The bankruptcy of Joann has been looming for a long time and was always a matter of when, rather than if,” said Neil Saunders, managing director and retail analyst for GlobalData, in a note Monday.
Persons: New York CNN — Joann, ”, Scott Sekella, Joann, Neil Saunders, “, ” Saunders Organizations: New, New York CNN, Nasdaq, GlobalData Locations: New York, Ohio
0 next >>
Total: 2