JOANN’s March 18, 2024 Chapter 11 proceeding is closed: the July 8, 2024 final decree Dkt. 415 closed the case and terminated the claims and noticing agent’s services. The prepackaged reorganization had already reached effectiveness, as reported in the April 30, 2024 effectiveness notice Dkt. 318, completing the transition from plan confirmation to emergence.

JOANN’s 2024 Chapter 11 case was closed by the July 8, 2024 final decree Dkt. 415, which also terminated the court-appointed claims and noticing agent’s services. The April 30, 2024 effectiveness notice Dkt. 318 had already reported that the prepackaged reorganization became effective.

JOANN filed its Chapter 11 petition Dkt. 1 on March 18, 2024 and pursued a prepackaged reorganization supported by postpetition financing. The April 12, 2024 final DIP financing order Dkt. 224 authorized cash-collateral use and a DIP-to-exit facility of up to $142 million, including $107 million in new-money term loans and $25 million converted from trade payables. Accordion availability was subject to commitment, and access to financing remained subject to the loan documents and order conditions.

The court’s April 25, 2024 confirmation order Dkt. 303 approved the first amended prepackaged plan after all voting creditors in the ABL, FILO and term-loan classes accepted it. The order authorized an exit ABL/FILO facility amendment and an exit term-loan agreement, with new equity to be issued by the reorganized parent upon effectiveness and the parent to operate as a private entity. It also provided for assumption of executory contracts and unexpired leases unless specifically rejected. The resulting path was reorganization through replacement financing and new equity, followed by emergence and the July case closure.

JOANN’s March 18, 2024 Chapter 11 proceeding is closed: the July 8, 2024 final decree Dkt. 415 closed the case and terminated the claims and noticing agent’s services. The prepackaged reorganization had already reached effectiveness, as reported in the April 30, 2024 effectiveness notice Dkt. 318, completing the transition from plan confirmation to emergence.

JOANN’s 2024 Chapter 11 case was closed by the July 8, 2024 final decree Dkt. 415, which also terminated the court-appointed claims and noticing agent’s services. The April 30, 2024 effectiveness notice Dkt. 318 had already reported that the prepackaged reorganization became effective.

JOANN filed its Chapter 11 petition Dkt. 1 on March 18, 2024 and pursued a prepackaged reorganization supported by postpetition financing. The April 12, 2024 final DIP financing order Dkt. 224 authorized cash-collateral use and a DIP-to-exit facility of up to $142 million, including $107 million in new-money term loans and $25 million converted from trade payables. Accordion availability was subject to commitment, and access to financing remained subject to the loan documents and order conditions.

The court’s April 25, 2024 confirmation order Dkt. 303 approved the first amended prepackaged plan after all voting creditors in the ABL, FILO and term-loan classes accepted it. The order authorized an exit ABL/FILO facility amendment and an exit term-loan agreement, with new equity to be issued by the reorganized parent upon effectiveness and the parent to operate as a private entity. It also provided for assumption of executory contracts and unexpired leases unless specifically rejected. The resulting path was reorganization through replacement financing and new equity, followed by emergence and the July case closure.