Joann Fabric to Close 500 Stores Nationwide Amid Second Bankruptcy Filing
Retail giant Joann plans to shutter nearly two-thirds of its fabric and craft stores across the US as part of Chapter 11 restructuring. The company, facing billions in debt, will begin liquidation sales while maintaining operations and employee benefits during the transition.
Big Lots Closure: Retail Giant Shutters All Stores, Cuts 500+ Corporate Jobs
Big Lots announced the closure of all 963 stores nationwide and the layoff of its corporate workforce following a failed buyout attempt. The dramatic end comes after the retailer's Chapter 11 bankruptcy filing, affecting over 27,000 employees across 48 states.
TGI Fridays Declares Bankruptcy Amid Post-Pandemic Restaurant Industry Turmoil
TGI Fridays' parent company files for Chapter 11 bankruptcy protection following dramatic reduction in U.S. locations from 237 to 163. The casual dining chain aims to restructure operations while keeping remaining restaurants open, citing COVID-19 impact and increased competition.