Fabric Retail Chain Joann Files to Return to Market in IPO

Joann Inc., the fabric and craft store, filed for an initial public offering a decade after being taken private by buyout firm Leonard Green & Partners.

The Hudson, Ohio-based company in its filing Wednesday with the U.S. Securities and Exchange Commission listed the size of the offering as $100 million, a placeholder that will likely change.

Private equity firm Leonard Green acquired the company, then Jo-Ann Stores Inc., in a $1.6 billion deal in 2010.

The retailer, dating back to a Cleveland storefront in 1943, has prospered through the coronavirus pandemic, adding 8 million new customers to its ...