JCPenney releases list of 154 stores to be closed this summer

JCPenney, which announced last month it had filed for bankruptcy, released a list of 154 stores it will close by the end of summer.

The stores will hold store closing sales beginning June 12, according to the company’s website, lasting from 10 to 16 weeks.

“While closing stores is always an extremely difficult decision, our store optimization strategy is vital to ensuring we emerge from both Chapter 11 and the COVID-19 pandemic as a stronger retailer with greater financial flexibility to allow us to continue serving our loyal customers for decades to come,” Chief Executive Jill Soltau said in a statement.

The stores chosen to be closed are scattered across some two dozen states.

JCPenney closed its doors during the COVID-19 pandemic as it was deemed a “non-essential” business. The hit in sales that came after nearly two months of shutdown struck a blow to a company that, like many brick and mortar stores, was already struggling with lagging sales.

The company, headquartered in Texas, says it has reopened nearly 500 of its locations. In February, JCPenney employed some 90,000 employees in its roughly 860 locations.

J.C. Penney announces 154 s... by CNBC.com on Scribd

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