Joann Filing Bankruptcy; Closing All U.S. Locations

Arts and crafts and fabrics retailer Joann announced Monday it plans to close all its U.S. locations soon.

The announcement came a month after the company filed for Chapter 11 bankruptcy protection.

At one point, Joann had just over 800 locations nationwide, including one in Augusta on Wrightsboro Road, across from Augusta Mall, but began closing as many as 500 stores last month. As of January, there were over 19,000 people employed by the company.

Joann Inc. reported over $615 million in debt when the company filed for Chapter 11 bankruptcy protection.

"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. 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," according to a company statement posted on Joann's website.

Going-out-of-business sales have already started at the 500 stores that were previously announced on a closure list.

Customers will be able to purchase merchandise at special prices during the going-out-of-business sales, according to a company statement. For the time being, customers can continue to shop at Joann stores, online at Joann.com, or on the Joann mobile app.

According to Joann's restructuring website, gift cards are not being accepted, merchandise can't be returned, and discounts for teachers, military and healthcare workers are also no longer available.

Hooters announced Monday is considering filing for Chapter 11 bankruptcy protection as it tries to restructure.

Hooters is reporting a decline in sales and an increase in debt.

There are over 400 Hooters locations across the United States, with one on Washington Road in Augusta.