Joann, the major national retailer of fabric and craft supplies, is going out of business and closing all of its roughly 800 stores. What does that mean for professionals who relied on the chain?

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.

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.