The latest victim of private equity appears to be JOANN Fabric and Crafts, a nationwide chain of craft stores. For the second time in less than a year, JOANN filed for bankruptcy in January.
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Mortman plans to hold a soft opening for the boutique during the week of Nov. 23 and a grand opening on Dec. 6 and 7. The grand opening event will offer an array of refreshments, discounts and giveaways for attendees.
It’s the most wonderful time of the year … for retailers. This Black Friday, consumers are expected to spend $148 billion on in-store and online purchases. Everyone loves Black Friday — standing in hour-long lines for a 50% discount, getting your workout in while walking through the mall and leaving with 12 bags of new outfits at 3 a.m. But are you really going to use all those appliances and wear all those clothes?