In September 2023, Jo-Ann announced it would lay off an unspecified number of administrative employees. [ 33 ] In October 2023, Fitch Ratings and CreditRiskMonitor reported that Joann was nearing a potential Chapter 11 bankruptcy filing. [ 34 ] That month, Joann was handed a delisting notice from Nasdaq as its stock share price fell below $1 per share that stated that if Joann was unable to get its shares up to $1 or above, its stock would be delisted from the Nasdaq. [ 35 ]