Craft retail chain The Michaels Companies said on Thursday that it has acquired the beloved fabrics retailer Joann, which recently winded down operations and closed all of its stores after a ...

(CNN) – Michaels is jumping into the void left by the collapse of Joann Fabrics. Michaels announced it is buying the fabric retailer’s private label and drastically expanding its sewing selection.

(CNN) – Michaels is jumping into the void left by the collapse of Joann Fabrics. Michaels announced it is buying the fabric retailer’s private label and drastically expanding its sewing selection.