Joann, the well-known fabrics and craft store company, has announced plans to close approximately 500 stores across the country as it seeks to reorganize during Chapter 11 bankruptcy protection, the company announced this week.

Crafts and fabric retailer Joann plans to close around 500 stores, or roughly half its total, as part of its ongoing Chapter 11 bankruptcy process.

Fabric and crafts chain Joann filed a motion to close hundreds of underperforming stores as part of Chapter 11 bankruptcy proceedings.