Jo-Ann Stores confirms "Go-Shop" Period Concludes With No Alternative Offer

Jo-Ann Stores, Inc. JAS today announced that its Board of Directors has scheduled a special meeting of its shareholders to consider and vote upon the proposal to adopt a merger agreement between the Company and an affiliate of Leonard Green & Partners, L.P. Jo-Ann Stores shareholders of record at the close of business on February 16, 2011, will be entitled to notice of the special meeting and the opportunity to vote on the proposed transaction. The special meeting is scheduled to be held on March 18, 2011. Despite an active and extensive solicitation of potentially interested parties in connection with the “go-shop” period since the announcement of the merger agreement, the Company did not receive any alternative acquisition proposals.