Add Yahoo as a preferred source to see more of our stories on Google. Joann fabrics is closing all 11 of its New Jersey stores over the next few months after filing for Chapter 11 bankruptcy for the ...

Michaels has acquired the intellectual property and private label brands of competitor Joann, which closed its stores after filing for bankruptcy.

Michaels has acquired the intellectual property and private label brands of Joann Fabrics, which recently declared bankruptcy. This acquisition includes popular Joann brands like Big Twist and expands ...

Michaels has purchased the intellectual property and private label brands of Joann, including Big Twist, after the latter closed all stores due to bankruptcy. Michaels will expand its offerings with ...

(CNN) – Michaels is jumping into the void left by the collapse of Joann Fabrics. Michaels announced it is buying the fabric retailer’s private label and drastically expanding its sewing selection.