Joann, a fabric and craft retailer, announced it filed for bankruptcy for the second time within a year due to financial and inventory issues.

This is the second time in less than a year that the retailer has filed for bankruptcy. Its stores are likely to close.

Once popular craft retailer JOANN Fabrics filed for Chapter 11 bankruptcy earlier this week — marking its second time doing so in the last 10 months. The company first filed for bankruptcy in March 2024, later emerging from bankruptcy as a private company in April.

Joann Fabrics has once again filed for Chapter 11 bankruptcy protection and said it would try to sell the business.“The company is seeking court approv

Joann has 20 locations in Massachusetts, according to its website, as well 27 outposts across New Hampshire, Vermont, Connecticut, Maine, and Rhode Island.

Joann filed for bankruptcy, its second in less than a year as the company looks to maximize the value of its business.