Fabric and sewing retailer Joann, with locations in Boardman and Niles, announced Wednesday approximately 500 stores nationwide will close, including its Mahoning Valley stores.

With federal court approval, the company said going-out-of-business sales would begin immediately.

A spokesperson for the company said the move was part of its Chapter 11 bankruptcy filing last month and “our efforts to maximize the value of the business.”

Thirty other stores in Ohio also are affected. In letters dated Jan. 24, the company filed with state officials two Worker Adjustment Retraining Notification Act notices affecting approximately 500 workers at its fulfillment and distribution centers in Summit and Madison counties.

“This was a very difficult decision to make, given the major impact we know it will have on our team members, our customers and all of the communities we serve,” the company statement said.

The company’s move leaves 350 stores open nationwide.

“Right-sizing our store footprint is a critical part of our efforts to ensure the best path forward for Joann,” a spokesperson said.