People walk into and out of a Joann store, Sept. 6, 2007, in Garfield Heights, Ohio. The fabric and crafts retailer has filed for Chapter 11 bankruptcy protection. AP
Joann Fabrics, a fabrics and crafts retailer that has been in business for 81 years, announced Monday that it filed for Chapter 11 Bankruptcy.
The move for the company comes as many consumers have shifted their purchasing power away from discretionary spending due to soaring inflation.
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