Two More Retail Stores In The Tri-Cities Area Are Set To Close. Joann Has Filed For Bankruptcy For The Second Time Within A Year. The Craft And Fabric Retailer Plans To Shut Down Approximately 530 Stores Across 40 States, Including The Johnson City And Kingsport Locations. Company Officials Cited Sluggish Consumer Demand And Inventory Shortages As Reasons For The Closures. Meanwhile, Gordon Brothers, Who Recently Acquired Big Lots After Its Bankruptcy Filing, Is Identified As A Potential Bidder For Joann’s Business. This Move Comes As Part Of Joann’s Efforts To Reorganize And Maximize The Value Of Its Business.
