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. “These stores will begin liquidation sales later this month and will close to the public in mid to late March.”. JCPenney, which filed for bankruptcy in May, said it would have to close a significant number of its stores. 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. Powered and implemented by FactSet Digital Solutions. OKLAHOMA – JCPenney revealed which stores it will close nationwide after announcing plans to shut down between 130 and 140 stores a few weeks ago. It survived the closure of 138 stores nationwide in 2017, but not the sale to the Simon Property Group and Brookfield Asset Management Inc., which was announced Monday. Penney said it expects the store closing sales to last anywhere from 10 to 16 weeks. The US equity strategy team … Market data provided by Factset. In May, JCPenney became one of the largest retailers to file for bankruptcy protection during the coronavirus pandemic. Latest Stories. J.C. Penney is closing even more stores in March of 2021. J.C. Penney filed for Chapter 11 bankruptcy protection earlier this year. 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. At the time, plans were announced to close approximately 30% of the retailers' 846 stores. The J.C. Penney store in Sequim, Wash., is also slated to be closed. Associated Press. It came as no surprise when JCPenney JCP +5.6% released a store closing list on Thursday afternoon. The store is the lone JCPenney in metro Detroit closing its doors as a part of the restructuring. FAQ - Updated Privacy Policy. 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. J.C. Penney is closing 154 stores — here's where they're located By Khristopher J. Brooks June 5, 2020 / 12:11 PM / MoneyWatch Bankrupt J.C. Penney plans to permanently shutter 154 stores … How to choose the right auto insurance coverage for your new car. A company spokeswoman confirmed to WBZ-TV that its Sturbridge location will soon be shutting its doors. This news comes shortly after filing for Chapter 11 bankruptcy protection in May, one day after it made an approximately $17 million interest payment on debt owed. JCPenney is closing more stores in the coming months, including one in Massachusetts. After filing for bankruptcy on May 15, … ©2020 CBS Broadcasting Inc. All Rights Reserved. Now, the company reports it plans to close another 15 stores and that liquidation sales are scheduled to begin later this month. In September, The New York Times reported that the Plano, … Quotes displayed in real-time or delayed by at least 15 minutes. The company plans to close 200 stores through the rest of the year, and recently announced 15 more store closures which included the Sturbridge Plaza location. The department store announced Monday evening the list of … Mutual Fund and ETF data provided by Refinitiv Lipper. Sales at stores open at least a year fell 5.6% in JCPenney's fiscal year, which ended February 1. The company announced the closure is part of a financial restructuring plan to close up to 200 stores across the country. JCPenney still has locations in Peabody, Wareham, North Dartmouth, North Attleboro, Marlboro, Leominster, Holyoke and Hadley. A company spokeswoman confirmed to WBZ-TV that its Sturbridge location will soon be shutting its doors. Yesterday, the company announced in a news release that it is selling JCPenney to Brookfield Property Group and Simon Property Group. STURBRIDGE (CBS) –JCPenney is closing more stores in the coming months, including one in Massachusetts. Now, the company will close an additional 13 stores and noted that this is part of their “store … This material may not be published, broadcast, rewritten, or redistributed. "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 stores are open Monday through Saturday from noon to 7 p.m. and Sundays from 11 a.m. to 6 p.m. "While store closure decisions are never easy, our store optimization strategy is intended to better position JCPenney to drive sustainable, profitable growth and included plans to close up to 200 stores in phases throughout 2020," it added. STURBRIDGE (CBS) –JCPenney is closing more stores in the coming months, including one in Massachusetts. ... Yahoo News explains. The company has about 850 stores currently, down about 200 stores over the last five years. The department store chain, which filed for bankruptcy last month, is inching toward its target of closing 250 stores … JCPenney filed for bankruptcy in May, citing the devastating economic impact of the coronavirus pandemic. JCPenny is closing down stores over the next couple of years as part of its Chapter 11 bankruptcy restructuring business plan. JCPenney announced on June 4 that 154 stores will be closed. JC Penney will close some of its locations as it comes out o bankruptcy. (Paul Hennessy/SOPA Images/LightRocket via Getty Images). ©2020 FOX News Network, LLC. JCPenney is closing even more stores in March of next year. JCPenney filed for bankruptcy in May, citing the devastating economic impact of the coronavirus pandemic. ", GET FOX BUSINESS ON THE GO BY CLICKING HERE. 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 department store that was once a staple in malls across the country may be shutting down its location nearest you. Crew and the Neiman Marcus Group filed, and represented the … Kristin Bentz of KB Advisory Group argues Ross, TJ Maxx and Etsy will be coronavirus-era retail winners. The list of 138 stores … The department store chain, which is expected to close 242 stores … J.C. Penney on Thursday received bankruptcy court approval to begin liquidation sales at stores that are closing permanently. The chain said the JC Penney location in Enterprise will close Spring 2021. December 18, 2020, 8:29 PM. Legal Statement. New York (CNN Business) JCPenney will close another 13 stores for good. J.C. Penney will close 15 additional stores in the spring after shuttering more than 150 locations since filing for bankruptcy. JCPenney has confirmed that 154 stores will close 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 stated. Since filing for Chapter 11 bankruptcy last spring, the retailer has shuttered more than 150 of its roughly 850 locations. JC Penney will close some of its locations as it comes out o bankruptcy. The store — the only JCPenney on the North Olympic Peninsula — has been at its location at 651 W. Washington St. for the past 25 years and was in Port Angeles prior to that. Power Outages Affect Thousands In Massachusetts On Christmas, Tom Brady Shreds Lions En Route To One Of The Best Halves Of His Entire Career, Worcester Boy Who Went Missing On Christmas Morning Found Safe, Man Killed In East Boston Stabbing On Christmas Eve, 'Christmas Morning Tragedy Averted': State Police Stop Wrong-Way Driver On I-93, AG: Man Killed In Exchange Of Gunfire With NH State Trooper Was Armed With Rifle, Handgun, Peabody Petco Employees 'Shaken' After Theft Of $300 Ball Python, Mount Washington Could See 170 MPH Wind Gusts From Christmas Storm, Taunton Police Officer John Borges Dies Of Coronavirus On Christmas Eve, Fire Destroys Braintree Family's Home On Christmas Morning. 10h ago. It announced plans to close about 240 of its 846 stores. 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