Craft and fabrics retailer Joann, which has been in business for the past 80 years, announced it is closing all 800 of its stores in 49 states and going out of business following a period of financial turmoil and low sales.

Joann is now set to close all of its store locations after previously announcing the closure of "approximately 500."

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.