Embattled retailer Joann Inc. (OTC:JOANQ) announced that it plans to tell the bankruptcy court in Delaware that it will close all of its stores. The company has already begun going-out-of-business sales as part of the process.

With stores in every state except Hawaii, Joann was known as the place to go for kids doing school projects or moms sewing costumes.

The crafts retailer formerly known as Jo-Ann Fabrics had been struggling financially for several years following a DIY-driven uptick in sales during the early days of the pandemic.

Joann Inc., the nationwide retailer of crafts and hobby products and materials, announced that it is going out of business and closing all its locations after having all of its

The auction results that put Joann's assets under new ownership has been approved as the retailer plans to close its more than 800 stores.

The sole Joann fabric store in El Paso and hundreds of locations across 40 states will close. After filing for Chapter 11 bankruptcy for the second time within a year, Joann's remaining assets were auctioned.