Jo-Ann Fabric and Craft Stores is the Registered Trademark name for a chain of retail stores (and online presence) specializing in sewing and crafts.
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After researching Jo-Ann Fabrics, I would determine that WalMart
did not purchase Jo-Ann's Fabrics. Their Articles of Incorporation
include the First Article which states:
FIRST: The name of the Corporation is Jo-Ann Stores, Inc.