Major fabrics and crafts retailer Joann Fabrics, a go-to destination for quilters, knitters, crafters, and sewing enthusiasts for more than 80 years, has announced it is going out of business and closing all stores. 

The announcement comes after the Hudson, Ohio-based company filed for Chapter 11 bankruptcy protection in January—its second time doing so in a year—citing weak consumer demand and inventory challenges. During the time of filing, reps for Joann said all locations would remain open.

Earlier this month, the retailer revealed plans to close 500 stores, representing more than half of its nationwide presence of around 850 stores. Following a recent auction, financial services firm GA Group and Joann’s term lenders have emerged as the winning bidders and acquired most of the company’s assets. This led to Joann beginning to liquidate its operations and planning to hold going-out-of-business sales at all store locations.

The company said its website, Joann.com, and the mobile app would remain open and operational during going-out-of-business sales. Reps for the retailer also said the dates for store closures or changes to the website would be posted as soon as possible and that it would likely take a “number of weeks to complete our final sales.”

Scott Carpenter, CEO of GA Group’s Retail Solutions and Wholesale & Industrial Solutions teams, told the Akron Beacon Journal that most Joann stores would remain open until the end of May.

“JOANN leadership, our Board, advisors and legal partners made every possible effort to pursue a more favorable outcome that would keep the company in business,” the company said in a statement. “We are committed to working constructively with the winning bidder to ensure an orderly wind-down of operations that minimizes the impact on all our stakeholders. We deeply appreciate our dedicated Team Members, our customers and communities across the nation for their unwavering support for more than 80 years.”

Joann was founded as the Cleveland Fabric Shop by German immigrants during World War II. It was once the largest fabrics retailer in the United States.