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Joann Enters Structured Bankruptcy; Stores and Site to Remain Operational

Retail TouchPoints

As it seeks to find firmer footing, Joann has entered a Transaction Support Agreement (TSA) with a majority of its financial stakeholders and other parties that includes commitments for approximately $132 million in new financing. The 800+ -store crafts retailer has initiated voluntary prepackaged Chapter 11 cases in the U.S.

Finance 263
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Early holiday shopping boosts October retail sales

Mass Relators

Retail sales data for October reflects the enduring strength of consumers’ finances and willingness to spend as the holiday season gets underway,” NRF President and CEO Matthew Shay said. Electronics and appliance stores were up 3.8% Sporting goods stores were up 1.5% General merchandise stores were up 0.8%