JOANN Files for Bankruptcy Protection

HUDSON, Ohio (News Talk 1480 WHBC) – The Hudson-based parent company of Joann Fabrics stores has filed for bankruptcy protection.

JOANN filed Chapter 11 paperwork Monday morning, saying it plans to keep stores and its website open during the process.

The company says it secured $132 million in fresh funding.

Its indebtedness had grown at one point to a billion dollars.