Major crafting retailer, Joann, declares bankruptcy; what that means

My aunts name was Joann and as a child her and my mother would have random adventures making things using what they could find there. It was a great memory to watch them run around being sisterly then get a window treatment or huge pillow for college out of the deal. In retirement, I ended up buying a house near that Joann’s we went to when I was a kid. The only thing the women around here are interested in “making” is Only Fans. You’ll be lucky if they attempt to make you a glass of water and I’ve had that messed up too, this side of life. It’s over-party.