Joann Files for Bankruptcy Again

Last March the craft retailer Joann announced that it was filling for Chapter 11 bankruptcy and that the company would become a private company with a better handle on its debt. The first part did happen, but the company has now filed again and is looking for a buyer, and the next chapter might not be so rosy for crafters who depend on the retailer.

In the most recent filing the company said it has $615.7 million in funded debt obligations and $133 million in trade debt, according to a story from Yahoo Finance. Interim CEO Michael Prendergast said the company faced “unanticipated inventory challenges” and sluggish sales coming off the pandemic. Bloomberg News had reported in November that Joann was asking vendors for rebates and retroactive discounts as sales slumped.

A news release from Joann says that all stores will remain open for now. In it Prendergast said “the last several years have presented significant and lasting challenges in the retail environment” and their financial position and inventory problems have forced the move.

The company is looking for a buyer but has a “stalking horse bidder” offer from Gordon Brothers Retail Partners, which will serve as the starting bid as the company await other offers. If there are other offers, the company will have an auction around Feb. 12.

If there are no better options the company will sell to Gordon Brothers, which specializes in liquidating companies and is involved in the closure of Big Lots.

John Bringardner from the research firm Debtwire told CNN that if/when Gordon Brothers takes over Joann it will likely start going out of business sales and lay off employees.

Of course that’s something we don’t want to see as crafters. It’s terrible to see big players in the industry go down, potentially leaving people without local places to buy supplies. (I shop at Joann and if it closes there will only be Hobby Lobby and the sad craft section at Walmart for me. The closest Michaels is about 50 miles away.) I’ll keep an eye on the story and update you when there’s more to tell.

There is something wonderfully nostalgic about a pair of handmade bed socks, isn’t there? They are practical, pretty, and just the sort of project that feels like it belongs beside a cup of tea, a good film, and a basket of wool that is pretending not to be overflowing.

This vintage Bed Socks knitting pattern is one of those sweet little patterns that still feels useful today. Originally from the Jaeger Hand-Knit Series No. 44, the design features a simple garter-stitch foot, a ribbed cuff, eyelet holes, a crochet chain tie, and little tassel-style pom-poms at the front. The original pattern even describes them as “a very acceptable present,” and honestly, I don’t think much has changed there.

These would make a lovely handmade gift for someone who is always cold, someone recovering or resting, or anyone who appreciates a bit of old-fashioned comfort. They would also be beautiful as a Mother’s Day gift, a winter birthday present, a Christmas stocking filler, or a “just because you deserve cozy feet” project.

The pattern itself is delightfully simple in construction. The socks are knitted flat, beginning at the lower edge, with the foot worked in garter stitch before moving into the ribbed upper section. The decorative eyelet row allows for a crochet chain cord to be threaded through, and the finishing tassels give the socks that charming vintage look. The top edge is finished with a row of double crochet, which adds a neat handmade touch.

The original measurements list the socks as approximately 10½ inches from the top to the lower edge of the heel, with a 9¾ inch foot length, and the pattern notes that the size can be adapted. As with many vintage knitting patterns, modern knitters will want to check gauge carefully and choose a soft yarn that feels comfortable against the skin. A cozy wool blend, soft acrylic, or washable yarn would all work depending on whether you are making these for everyday use or as a special gift.

I especially love that this pattern has that “giftable” quality without being a massive project. It is small enough to feel achievable, but still special enough that the finished pair looks thoughtful. And let’s be honest, handmade socks with pom-poms are always going to beat a last-minute candle from the supermarket.

The PDF version has been cleaned up and formatted for easier reading while keeping the original vintage design intact. It also includes a modern pink mockup image and the original vintage scan, so you get both the historical charm and a fresh idea of how the finished socks could look today.

If you enjoy vintage knitting patterns, cozy handmade gifts, or quick projects that feel useful rather than just decorative, this sweet little bed socks pattern is a lovely one to add to your collection.

You can find the Vintage Bed Socks Knitting Pattern PDF in the CraftGossip Etsy store.

For supplies, this is also a nice stash-friendly project. A soft yarn from Mary Maxim or Amazon would work well, and if you make pom-poms regularly, a small pom-pom maker is one of those inexpensive tools that saves a surprising amount of fiddling.

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