J.C. Penney, 118-Year-Old Department Store, Files for Bankruptcy The chain’s move came after J. Since filing for Chapter 11 bankruptcy last spring, the retailer has shuttered more than 150 of its roughly 850 locations. JCPenney has confirmed that 154 stores will close this year. The 118-year-old company emerged from bankruptcy earlier this month after making a deal that leaves Simon Property Group and Brookfield Asset Management as the owners and operators of the chain. The department store chain, which filed for bankruptcy last month, is inching toward its target of closing 250 stores … Now, the company will close an additional 13 stores and noted that this is part of their “store … Kristin Bentz of KB Advisory Group argues Ross, TJ Maxx and Etsy will be coronavirus-era retail winners. JC Penney to close local store in the spring Plano-based J.C. Penney will close its store in the Temple Mall in the spring as part of a major corporate restructuring effort. A company spokeswoman confirmed to WBZ-TV that its Sturbridge location will soon be shutting its doors. Now, the company reports it plans to close another 15 stores and that liquidation sales are scheduled to begin later this month. "These stores will begin liquidation sales later this month and will close to the public in mid- to late March. A few months ago, JCPenney announced it would file for bankruptcy and close more than 150 stores across the country. Other stores across Michigan have already closed, including ones … “These stores will begin liquidation sales later this month and will close to the public in mid to late March.”. Mutual Fund and ETF data provided by Refinitiv Lipper. The stores are open Monday through Saturday from noon to 7 p.m. and Sundays from 11 a.m. to 6 p.m. In June, JCPenney filed for bankruptcy protection and announced that it would close 192 stores across the country, including two in the Dallas area: the Timber Creek Crossing store in Dallas, and Music City Mall in Lewisville. Penney said it expects the store closing sales to last anywhere from 10 to 16 weeks. https://www.foxbusiness.com/economy/jc-penney-closing-more-stores-in-2021 ... Yahoo News explains. FAQ - Updated Privacy Policy. Click here for a list of the new closures. My daughter and granddaughter work there in Sturbridge and it’s sales performance is better than some of the mall stores, especially with the Sephora added to it. After filing for bankruptcy on May 15, … It announced plans to close about 240 of its 846 stores. "Following a comprehensive review of the JCPenney retail footprint, we announced several phases of store closures in 2020, part of our store optimization strategy that … The department store chain plans to permanently close nearly a third of its stores over the next two years. JCPenney filed for bankruptcy in May, citing the devastating economic impact of the coronavirus pandemic. The company announced the closure is part of a financial restructuring plan to close up to 200 stores across the country. After a true annus horribilus, we’re all ready for better times. JCPenney announced on June 4 that 154 stores will be closed. JCPenney still has locations in Peabody, Wareham, North Dartmouth, North Attleboro, Marlboro, Leominster, Holyoke and Hadley. Collin Creek seemed to have emerged unscathed. JCPenney’s website states: “Items purchased prior to the start of the liquidation sale may be returned or exchanged throughout the entire liquidation sale at closing stores.” Uncertainty Nelson said Sequim’s store has a dedicated following, as it is the only JCPenney on the North Olympic Peninsula. Latest Stories. 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JCPenney Store Closings Following a comprehensive review of the JCPenney retail footprint, we announced several phases of store closures in 2020, part of our store optimization strategy that began in June and included plans to close up to 200 stores throughout our financial restructuring. Sales at stores open at least a year fell 5.6% in JCPenney's fiscal year, which ended February 1. Retailer JC Penney is closing another Alabama store. “As part of our store optimization strategy that began in June with our financial restructuring, we have made the decision to close an additional 15 stores,” JCPenney stated. A company spokeswoman confirmed to WBZ-TV that … STURBRIDGE (CBS) –JCPenney is closing more stores in the coming months, including one in Massachusetts. In the coming weeks, there will be phases of store closing sales, which JCPenney expects will take 10 to 16 weeks to complete. Crew and the Neiman Marcus Group filed, and represented the … The company has about 850 stores currently, down about 200 stores over the last five years. FOX Business' Daniella Genovese and Lucas Manfredi contributed to this report. A company spokeswoman confirmed to WBZ-TV that its Sturbridge location will soon be shutting its doors. Bankrupted J.C. Penney announced Thursday the list of the … All rights reserved. TJ Maxx, Ross will benefit from retailers going bankrupt: Retail watcher, Coronavirus propelled businesses into the future -- ready or not, Enhanced unemployment benefits set to expire this week, Elon Musk says taking Tesla private would be an 'impossible' task, Home insurance companies will reduce premiums if you have these smart devices, Today's mortgage refinance rates crawl upward | December 23, 2020, Today's mortgage rates don’t budge for nine straight days | December 23, 2020. J.C. Penney filed for Chapter 11 bankruptcy protection earlier this year. "As part of our store optimization strategy that began in June with our financial restructuring, we have made the decision to close an additional 15 stores," JCPenney said in a Thursday statement to USA Today. The list of 137 closing stores, along with the safety precautions the Company is taking, can be found on the JCPenney Blog. Associated Press. The US equity strategy team … STURBRIDGE (CBS) –JCPenney is closing more stores in the coming months, including one in Massachusetts. ©2020 FOX News Network, LLC. This material may not be published, broadcast, rewritten, or redistributed. A department store that was once a staple in malls across the country may be shutting down its location nearest you. J.C. Penney will close 15 additional stores in the spring after shuttering more than 150 locations since filing for bankruptcy. The department store chain, which is expected to close 242 stores … Source: Supannee_Hickman / … The department store announced Monday evening the list of … Yesterday, the company announced in a news release that it is selling JCPenney to Brookfield Property Group and Simon Property Group. How does the 10-year Treasury affect mortgage rates? How to choose the right auto insurance coverage for your new car. JC Penney will close some of its locations as it comes out o bankruptcy. However, things might be turning around for the retailer. J.C. Penney is set to close 13 more stores this summer as it works toward restructuring its business in bankruptcy court. At the time, plans were announced to close approximately 30% of the retailers' 846 stores. It came as no surprise when JCPenney JCP +5.6% released a store closing list on Thursday afternoon. The J.C. Penney store in Sequim, Wash., is also slated to be closed. New York (CNN Business) JCPenney will close another 13 stores for good. ©2020 CBS Broadcasting Inc. All Rights Reserved. The chain said the JC Penney location in Enterprise will close Spring 2021. More than 40 major retailers have declared bankruptcy and more than 11,000 store closures have been announced in 2020, according to a report from real estate data tracker CoStar. JCPenney is closing even more stores in March of next year. The store is the lone jcpenney in metro Detroit closing its doors out bankruptcy... Stores over the next two years ``, GET FOX BUSINESS on the by... Close this year and ETF data provided by Refinitiv Lipper the restructuring release it! Surprise when jcpenney JCP +5.6 % released a store closing list on Thursday afternoon on afternoon! `` These stores will begin liquidation sales are scheduled to begin later this month and will close some its! Is selling jcpenney to Brookfield Property Group ' Daniella Genovese and Lucas Manfredi contributed this. 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