Joann Will Shutter All of Its 800 U.S. Stores, Conduct Sales

Craft and fabrics retailer Joann, in business for 80 years, announced the closure of all 800 stores in 49 states due to financial turmoil and low sales. With 19,000 employees, Joann filed for bankruptcy twice, unsuccessfully seeking a buyer to keep the business afloat. Assets were auctioned off to GA Group, leading to immediate going-out-of-business sales at all locations, eliciting sadness from customers and designers who relied on the store for crafting supplies.

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