Dick's Sporting Goods: Stores plan to reopen on April 2, according to the company's website. Joann, like its peer Michaels Stores, has faced a surge in competition from online retailers and mass merchants — a common struggle for single-category retailers trying to hold on to their market positions. That could lead it to try to restructure its debt in the next 12 months. While some retailers are flourishing – namely chains with grocery sales like Walmart, Target, Kroger and Costco – others are trying to stave off doom, like Forever 21, Jo-Ann Stores and David's Bridal. on JoAnn made the leadership announcement in a news release Tuesday. The company's stores include Lane Bryant, Justice, Loft and Ann Taylor. With most of its stores temporarily closed because of the coronavirus, J.C. Penney is bleeding cash while it awaits the chance to get back on its feet. “We believe conditions for GNC are deteriorating substantially due to the coronavirus pandemic, the anticipated macroeconomic downturn and the limited access to capital markets,” S&P reported. American Eagle Outfitters: All stores are closed through March 27. Now, hopes of a sudden influx of business in the wake of the pandemic seem especially dim. Here’s a list of retailers that are trying to avoid bankruptcy or store closings, according to USA TODAY research, public data and analyst reports: J.C. Penney is considering filing for bankruptcy protection as the retailer grapples with the fallout from the coronavirus pandemic and its own long-in-the-making struggles. Hudson-based fabric and crafts retailer JoAnn Stores is in the market for a new CEO.. Wade Miquelon, Joann Stores CEO, joins 'The Exchange' to discuss the trade tariff impact the company is seeing. More than 20 percent of the Ohio-based company’s customers are small-business owners who use the fabrics to create new products and then sell them online at places like Etsy, Soltau said. Joann and Party City are sobering reminders of how quickly retailers can slip from relative financial health into distress during market swings. Joann's headquarters is located in Hudson, Ohio, USA 44236. Jo-Ann Stores, Inc. - Pre-Sale Snapshot - $450m _% Senior Notes due 2019. The luxury department store chain filed for Chapter 11 bankruptcy protection on May 7 after dealing with too much debt. Even companies with healthy balance sheets can be thrown into distress, and bankruptcy, if sales hits are long and deep enough. Stephan Van Den Bos, ANP/AFP via Getty Images. But with credit markets strained from the gathering economic downturn, there is much uncertainty around refinancing. Declining and distressed retailers could be in for a yet rougher time as the country navigates a mounting public health crisis. The company, which leases all of its stores, disclosed in a court filing that it had hired a real estate consultancy and liquidator to help it evaluate its leases and negotiate rent relief. The free newsletter covering the top industry headlines, Joann Stores is among the latest retailers to get a credit downgrade on concerns surrounding the effects the spread of coronavirus will have on its business, S&P Global dropped Joann's issuer rating to CCC from B- last week, with analysts citing "unprecedented headwinds amid the COVID-19 pandemic," according to an emailed press release, The ratings firm gave the crafting retailer a negative outlook, indicating possible further downgrades. Jo-Ann Stores, LLC retails fabric and craft products. 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