Crafts retailer Joann files for bankruptcy after 81 years

Textile’s tariff strategy Joann Inc., the Ohio-based fabric and craft retailer, has filed for Chapter 11 bankruptcy protection after 81 years in business. The company made the announcement Monday, adding it could become privately owned as soon as next month.Joann Fabrics and Crafts stores and website will remain open and continue operating as normal, according to a press release. …