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.

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.

In an Instagram post on January 16, 2025, the company reflected on its history, stating, “Since 1943, JOANN team members have been creating right along with you. Even when times have been tough – through wars,