Joann initially said it would be closing "approximately 500" of its 850 stores after filing for Chapter 11 bankruptcy. But after the chain was sold to a new ownership group, it said all of its stores would be shutting down.

If you have a Joann's gift card, you won't be able to use it, even if your store is still open. The retailer said gift cards will no longer be accepted at any store when they announced every location would close its doors last month,

Many arts and crafts hobbyists were recently disappointed to find that their gift cards are no longer being accepted at Joann Fabrics. The chain made the announcement in a Customer FAQ after declaring bankruptcy for the second time in a year, explaining that gift cards would only be accepted through Feb. 28.

Fabrics giant Joann is closing, and the store has stopped taking gift cards — upsetting many customers. Here’s what shoppers should know.