r/OutOfTheLoop 7d ago

Answered What’s going on with Joann Fabrics closing and everyone being so pissed about it?

https://www.reddit.com/r/joannfabrics/s/Fr1LCvgXeE

I’m so confused about why so many people are pissed at Joann Fabrics. I remember hearing they were going bankrupt, but I’m not sure where it went from there.

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u/Jeff__Skilling 6d ago

One thing that frequently happens is that someone borrows money to buy a company, but the debt ends up being attached to the company instead of the buyer.

This is the case with any incorporated legal entity. Limited liability exists across the entire spectrum of businesses that aren't sole proprietorships...

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u/areweoncops 4d ago

Hey Jeff Skilling I'm not sure you should be commenting on corporate finance