Nationwide craft store Joann is going out of business, with its remaining stores set to close after a slashing of locations just earlier this month. The group that acquired Joann's assets, GA Group and Prepetition Term Loan Agent,

All Joann Fabrics and Crafts locations across the U.S. will close down over the next several weeks, according to Joann Inc., just one month after filing Chapter 11 bankruptcy.

Crafts retailer Joann Inc plans to close all of its stores in bankruptcy, after failing to find a buyer willing to preserve some of the 82-year-old company's 800 U.S. retail locations. The company plans to sell all its assets to a buyer group that includes its lenders and a company called GA Group,