JOANN®
In connection with JOANN Inc.’s Chapter 11 bankruptcy proceedings, Hilco Streambank was engaged by the agency partnership comprised of GA Group, Tiger Group, and JOANN’s prepetition term lenders, to market and sell the intangible assets of JOANN®.
The engagement included the sale of the JOANN® brand and associated IP—trademarks, domain names, private label brands, customer and loyalty data, and digital infrastructure. Our mandate also included managing the carveouts and sales of assets related to creativebug®, a digital subscription platform offering instructional arts and crafts content, and Ditto Patterns®, a patent-protected pattern software, subscription library, and projector business unit.
We conducted a thorough assessment of the assets, and recognizing the critical importance of preserving brand equity and operational continuity, we quickly identified and secured all valuable IP components and ensured the continued operation of the creativebug® business.
Our team led a coordinated process, driving rapid diligence, engaging stakeholders, and negotiating directly with multiple third-party vendors to ensure transferability of essential digital and brand-related rights. This proactive approach delivered a clean, comprehensive package of assets to the buyers.
Hilco Streambank closed all three asset sales in June 2025. Michaels—North America’s largest arts and crafts retailer—acquired the JOANN® IP assets, expanding its brand portfolio and reinforcing its leadership in the creative retail category. Golden Peak Media purchased the creativebug® assets in a transaction that maintained uninterrupted operational continuity among its dedicated customer base and saved nearly 100% of the creativebug® business unit’s jobs. SVP Worldwide also acquired the Ditto Patterns® assets in a transaction that maintained uninterrupted operational continuity among its users.
Hilco Streambank’s ability to navigate complexity, accelerate timelines, develop value maximizing strategies, and unlock asset value drove the success of these transactions.
