Major crafts and hobby goods company files Chapter 11 bankruptcy

The retail sector has confronted main bankruptcy filings over the closing year, led by mountainous outlets, together with Rite Succor, Joann, Birthday party City, and Forever 21.

Retailers blamed financial challenges they've confronted because the Covid-19 pandemic for their financial wound, together with rising costs of labor and products, pushed by inflation and elevated hobby charges on debt responsibilities, as well to retail theft.