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The JCPenney mother store in Kemmerer, Wyoming. In 1898, Penney began working for a small chain of stores in the Western United States, called the Golden Rule stores.In 1902, owners Guy Johnson and Thomas Callahan, impressed by his work ethic and salesmanship, offered him a one-third partnership in a new store he would open.
In early 2001, JCPenney closed 44 under-performing stores. In 2001, JCPenney sold its direct-marketing insurance unit to Dutch insurer Aegon for $1.3 billion (equivalent to $2.31 billion in 2025) in cash to help refocus the company on retail. [30] In 2003, the company opened three stores in strip centers in Texas, Minnesota, and Indiana.
Why Is JCPenney Closing More Stores? JCPenney filed for bankruptcy back in 2020. Since then, about 240 of its stores have closed. Right now, there’s about 650 locations left in the U.S.
The brand had 150 stores at its peak, predominantly on the West Coast. Anchor Blue declared bankruptcy in 2009 and shuttered more than 50 stores, and gradually shrank to include stores solely in California. It went bankrupt once more in 2011, with the remaining stores closed before Easter of that year. [48]
On Tuesday, J.C. Penney issued a press release stating that comparable-store sales for the troubled department store operator rose approximately 2% last quarter. That marks the company's first ...
A "handful" of JCPenney locations are soon to be closing, a company spokesperson said, adding to the retailer's long list of shuttered stores since it filed for bankruptcy in 2020.
After filing for bankruptcy protections in 2020, JCPenney closed more than 200 stores. Last month, JCPenney announced it had partnered with Forever 21 to create a new company called Catalyst Brands.
Saunders worked the plantation as well throughout his early childhood. By age 11, he was also working in a sawmill and limestone kiln during the summer and at a general store during the holidays. He received only two years of formal education in Palmyra, before quitting school entirely at 14 to work full-time for the general store.