Joann will close all stores, shutter business pending court approval

Fabric chain Joann is going out of business and closing all 800 stores, marking the end of the 82-year-old company that was once the leading destination for DIY and crafts enthusiasts.

The company employs 19,000 people, according to court documents.

Joann, which in January filed for its second bankruptcy within a year, has been sold to liquidator GA Group and the retailer’s lenders, it announced Sunday. The sale and closures are pending approval from U.S. Bankruptcy Court in the District of Delaware. The final sale hearing is scheduled for Wednesday.

Joann has locations on West Francis Avenue and East 29th Avenue in Spokane, as well as East Indiana Avenue in Spokane Valley.

Stores will begin going-out-of-business sales immediately, the company said on its restructuring website. While the retailer will no longer live on in brick-and-mortar stores, Joann’s brand could survive if another company buys its intellectual property.

The news comes weeks after the Hudson, Ohio-based chain announced it was closing more than half its locations. In the year since its first bankruptcy, Joann has struggled to improve its inventory and profitability. The company had a hard time finding enough cash to maintain operations, it said in bankruptcy court filings last month. At the time, Joann had $615.7 million in total funded debt obligations and just $8.4 million in cash on hand, according to court documents.