‘Joann’ to close all 800 stores after new ownership group wins bid

(CNN) — Crafting and fabrics retailer 'Joann' is set to close all of its locations. The closures follow the company's auction sale to a new ownership group, The Hudson.  

The chain filed for bankruptcy twice over the last year with plans to keep some locations open. But now, 'Joann' says it will close all of its more than 800 locations.

It will end a run of more than 80 years in business. The company opened its first location in Cleveland, Ohio, in 1943.

Going-out-of-business sales will be held at all 'Joann' stores. The chain will no longer accept returns and gift cards will only be valid through this Friday.

The company previously announced the closure of approximately 500 stores across the U.S.