Sewing and crafts retailer Joann will close 500 of its 800 stores in the United States while undergoing bankruptcy restructuring.

Joann, the retailer famously known for selling fabrics and crafts, has filed for Chapter 11 bankruptcy for the second time in less than a year.

Fabric and crafts retailer Joann Fabrics filed for a second bankruptcy this week, announcing the closure of nearly 500 stores nationwide.