Kirkland Advises JOANN on Chapter 11 Filing

Kirkland & Ellis advised JOANN Inc., the nation’s category leader in sewing and fabrics, on its voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware to facilitate a sale process to maximize the value of its business, with Gordon Brothers Retail Partners, LLC serving as the proposed “stalking horse” bidder. JOANN stores and JOANN.com are open in the ordinary course and continue to serve customers. The proposed transaction is subject to higher and better offers, among other conditions, and the company continues to actively solicit bids.

Read the transaction press release

The Kirkland team included restructuring lawyers Joshua Sussberg, Anup Sathy, Aparna Yenamandra, Jeff Michalik, Lindsey Blumenthal and Olivia Acuña; corporate lawyer Steve Toth; tax lawyer Anthony Sexton; debt finance lawyer Andy Veit; and litigation lawyer Bill Arnault.