Ok, crafters and seamstresses we may see some differences at Joanns! The big material/craft retailer has filed for Chapter 11 bankruptcy protection.

The Hudson, Ohio-based company  indicated that it may emerge from bankruptcy as early as the end of next month. If that should happen, Joann will likely become privately-owned by certain lenders and industry parties, which means its shares would no longer be publicly traded on stock exchanges.

Currently there are more than 800 Joann stores nationwide and will continue to operate normally during the bankruptcy process.

Vendors, landlords and other trade creditors should also not see any pay disruptions, the company said, pointing to a deal it had struck with most of its shareholders for financial support.

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