The fabric retailer Joann is set to close all of its nearly 800 locations following unsuccessful efforts to secure a buyer willing to keep its stores operational.

In an official announcement, the company revealed that it would begin nationwide clearance sales as mandated by the group that acquired its assets during the auction process.

“JOANN’s leadership team, Board members, advisors, and legal partners explored every possible avenue in hopes of achieving a better outcome that would allow the company to continue operations,” the statement noted. “We are dedicated to collaborating with the successful bidder to ensure a smooth and orderly winding down of activities, aiming to minimize the effect on all our stakeholders. We sincerely thank our committed team members, customers, and communities nationwide for their steadfast support over the past 80 years.”

Founded as the Cleveland Fabric Shop by German immigrants during World War II, Joann once held the title of the largest fabric retailer in the United States.

The company went public for the first time in 2010 but was de-listed within just one year. It enjoyed a short resurgence fueled by the surge in crafting during the pandemic. Joann re-entered the public market in 2021, but by 2023, its sales had plummeted, leading to an initial bankruptcy filing in 2024.

At the time of its second Chapter 11 bankruptcy filing in January, Joann reported approximately 19,000 employees, the majority of whom were part-time workers.

For more information regarding the liquidation sales, the company has posted a comprehensive FAQ on its website, which is effective immediately.