JoAnn's is being bought by Leonard Green in LA. It's an equity firm. Sometimes they influx money into the companies they buy, sometimes they don't. The sales won't be approved until mid 2011. Go to JoAnn's site and to investor informatioin at the bottom of the home page.
Originally Posted by toomanycats
JoAnn's being sold? Haven't heard that but doesn't surprise me. It has less fabric and is starting to look more like a Michaels. Lots of new faces working there.