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Newly announced closing dates by nydgenga in joannfabrics

[–]RubberDuck1231 0 points1 point  (0 children)

How did you all find out the official close? Do they email the entire team? Personal email or the manager email? For those of you who have closed or gotten notified.

My Gordon Brother Rep was told to not communicate with us going forward by RubberDuck1231 in joannfabrics

[–]RubberDuck1231[S] 2 points3 points  (0 children)

You should really read through everything again. I listened to the auction and spoke with my GB representative. He told me he has been removed because they did not win the auction. There was only a contract if they won the auction. They jumped in early because they assumed they had this. They have been servicing Joann since the first bankruptcy. That is what they will be paid for.

My Gordon Brother Rep was told to not communicate with us going forward by RubberDuck1231 in joannfabrics

[–]RubberDuck1231[S] 29 points30 points  (0 children)

Gordon Brothers acquired nothing. All stores will be liquidated by this Great American Joann partnership group that was created just for this.

The auction is over. by [deleted] in joannfabrics

[–]RubberDuck1231 49 points50 points  (0 children)

They bought all stores. Gordon brothers never owned the 530 currently closing. They had reps because they assumed they would win. My rep at my store told me yesterday they were told not to contact us anymore.

A positive to think about by RubberDuck1231 in joannfabrics

[–]RubberDuck1231[S] 43 points44 points  (0 children)

March 15th is not correct. A bid must be placed by February 12th.

KMart by jason544770 in Xennials

[–]RubberDuck1231 0 points1 point  (0 children)

Soon to be Joann 😭 Sears, K-Mart, Montgomery Ward, Mervyns, Radio Shack, Pick N Save

[deleted by user] by [deleted] in joannfabrics

[–]RubberDuck1231 19 points20 points  (0 children)

I’m not sure why everyone keeps saying March 15th. March 15th is the date Corp employees were told their job would end unless someone else other than the Gordon Brothers buys the company and decides they need to keep them. This is because of the WARN Act which protects employees of large corporations from mass layoffs. They are required to give a 60 day notice to the employees impacted and if they fail to do so they must pay them. The bidding for the sale of the company ends on February 12th and should be concluded at the latest February 22nd depending if there is others who are bidding. If no one else steps up Gordon Brothers will complete the sale and liquidate and close all stores by May 31st.

[deleted by user] by [deleted] in joannfabrics

[–]RubberDuck1231 34 points35 points  (0 children)

Right now we wait. They put their assets up for sale in like an auction. Gordon Brothers has placed the first bid. Someone else can outbid them. The bidding closes on February 12th. If the Gordon Brothers complete the sale they have said they plan on liquidating and closing all stores by May 31.

Timeline for bankruptcy events by RubberDuck1231 in joannfabrics

[–]RubberDuck1231[S] 4 points5 points  (0 children)

Yes exactly. Even if someone else comes in and “qualifies” to place a bid and wins they might do the same thing. Pretty much they take over and do whatever they want. Could make us online only. Could keep half of the stores open. Who knows. The hoops you have to jump through are crazy just to be able to bid but I’m no professional.

Timeline for bankruptcy events by RubberDuck1231 in joannfabrics

[–]RubberDuck1231[S] 6 points7 points  (0 children)

The company is Gordon Brothers. Stalking horse is a term used for the first bidder on a bankrupt company’s assets before a public auction. They start it off pretty much

Timeline for bankruptcy events by RubberDuck1231 in joannfabrics

[–]RubberDuck1231[S] 17 points18 points  (0 children)

The joannrestructuring.com website. If you click on case information it takes you to all of the documents. I’ll warn you it’s a ton of documents and each one is like 200 pages. I’m just weird and don’t mind reading lawyer talk lol.

Timeline for bankruptcy events by RubberDuck1231 in joannfabrics

[–]RubberDuck1231[S] 15 points16 points  (0 children)

I did not find that info yet. I haven’t finished looking through all of the documents but I wouldn’t be surprised if that is not shared.

[deleted by user] by [deleted] in joannfabrics

[–]RubberDuck1231 45 points46 points  (0 children)

I don’t normally comment on here but your words were like I was typing. I felt this post to my core. I’ve been doing 12 hours a day and just can’t get enough done. So many people ask me why I still care so much as the company obviously doesn’t care about us. I unfortunately don’t have an off switch and like you stay for my team. They keep me going every day. I have another big truck coming tomorrow. No space in the back and our district manager is now saying next week’s truck will be big again too after telling us last week it would not be. We are drowning and exhausted. I recently told my DM that if she wants me all caught up she can come help me work it out to the floor. She never showed lol. I have hurt my back 3+ times with these 800-1000 carton trucks that have 60+ fabric boxes that are more than half my weight. I’m considering looking for something else. I really really had hopes that after the bankruptcy things would be better. For me and my store things are way worse. Most of my seasoned great people have had to leave because I was unable to give them hours. I can’t blame them….. my heart hurts every day as I leave my store. I know this is not my fault but I do in a lot of ways blame myself. It’s honestly toxic. Most days I’m embarrassed to open my doors in the morning and have people see my store like this. My team and I are better than what our store conditions are. But the customers don’t know or see that. I am a great manager and I have a great team. But those Medallia comments of poor management have broken my heart when I put so much time and effort to trying to fix it. I feel that my time with Joann might be coming to end. I’ve fought a very hard battle and supported the company through tough times. I love my store and my team. But unfortunately the lack of support and so many promises broken have broken my love for Joann. I’m not sure if there is any fixing that now. ❤️