Hudson-based retail chain JOANN to emerge from bankruptcy as private company [Video]

CLEVELAND — The Hudson-based parent company of fabric and craft retail chain JOANN is expected to emerge from bankruptcy as a private company in the coming days after a U.S. bankruptcy court approved its reorganization plan. 

The company’s more than 800 stores, and its 18,000 employees nationwide, will be preserved as JOANN expects to complete its financial restructuring. The reorganization plan was approved Thursday by the U.S. Bankruptcy Court for the District of Delaware. 

“We are pleased to have reached this significant milestone less than 40 days after initiating our court-supervised process,” said Chris DiTulio, the company’s chief customer officer and co-lead of the interim office of the CEO.

JOANN filed for Chapter 11 bankruptcy protectionon March 18 and was expected to change hands to private owners rather …