(CNN)– Joann, the fabrics and crafts store has filed for bankruptcy for a second time within a year. The 82-year-old retailer announced on Wednesday, that sluggish sales and inventory issues have forced it to file for Chapter 11 once again. Joann first filed for bankruptcy in March, and emerged a month later as a private company, keeping all of its stores open. The company is now seeking to sale most of its assets. Gordon Brothers retail partners which recently bought much of Big Lots, has already emerged as a potential buyer and made an initial bid. Categories: News Tags: Joann