Jo-Ann Fabric and Craft Stores was founded in 1943 as a single retail store. It is now the nation's largest fabric and craft retailer with more than 850 stores in 49 states.

Customers of the beloved store, the go-to place for millions of craft newcomers and veterans alike, will not see many outward changes to Joann. The company has more than $2.44 billion in total debts.

Jo-Ann Fabric and Craft Stores was founded in 1943 as a single retail store. Today, there are more than 800 Jo-Ann stores across the country that provide customers with fabrics and craft supplies.