Joann Fabric and Crafts, a mainstay in the crafting community for over 82 years, has once again fallen on hard times, filing for bankruptcy for the second time in just one year. Announced on Wednesday,

Last year was tough for brick-and-mortar businesses big and small, and this year is starting off no differently. Joann Fabrics announced that it was declaring Chapter 11 bankruptcy for the second time within a 12-month period as it seeks a buyer to rescue the beleaguered chain.

The specialty retail chain, which says it has $615 million in debt and just $8 million in cash, is seeking Chapter 11 protection for the second time in a year.