Craft retailer Joann Inc received a U.S. bankruptcy judge's approval on Thursday for a restructuring that would eliminate $505 million in debt and keep all 815 retail locations open. U.S. Bankruptcy Judge Craig Goldblatt approved Joann's restructuring plan at a court hearing in Wilmington, Delaware, saying the bankruptcy was "a very good outcome" for the company's employees, landlords, and craft suppliers. Joann creditors, who agreed to cancel about half of the company's debt and take ownership of the company's post-bankruptcy equity, unanimously voted for the restructuring.
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Country | G | S | B | Total |
---|---|---|---|---|
United States | 39 | 41 | 33 | 113 |
China | 38 | 32 | 18 | 88 |
ROC | 20 | 28 | 23 | 71 |
Great Britain | 22 | 21 | 22 | 65 |
Japan | 27 | 14 | 17 | 58 |
Australia | 17 | 7 | 22 | 46 |
Italy | 10 | 10 | 20 | 40 |