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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.
A JCPenney spokesperson told USA TODAY the stores are expected to close by mid-2025. Contributing: Jonathan Limehouse and Kelly Tyko, USA TODAY Greta Cross is a national trending reporter at USA ...
JCPenney announced in February 2017 that it would close 138 stores in 2017. Liquidation sales began on May 22, and the stores closed by July 31. [168] Another 8 stores and a distribution center closed in 2018 while over 50 additional stores were expected to close between mid-2019 and late 2020.
Here’s the list of department stores being closed and where they are: -JCPenney at The Shops at Tanforan in San Bruno, California. -JCPenney at The Shops at Northfield in Denver, Colorado.
The company was incorporated under the new name, J. C. Penney Company. In 1916, he began to expand the chain east of the Mississippi River, and during the 1920s, the Penney company expanded nationwide, with 120 stores in 1920, most of which were still in the west. By 1924, Penney reported income of more than $1 million annually. [4]
In 1940, Sam Walton began working at a J. C. Penney in Des Moines, Iowa. Walton subsequently founded retailer Walmart in 1962. [11] By 1941, J. C. Penney operated 1,600 stores in all 48 states. In 1956, J. C. Penney started national advertising with a series of advertisements in Life magazine. J. C. Penney credit cards were first issued in 1959.
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J. C. Penney: 2015–2020 177 Filed May 2020 669 (May 2022) [46] [47] Toys "R" Us: 2018 Closed all US, UK and Australia stores. Filed 2017 Re-emerged 2019 80 Canada stores, 160 Japan stores, 1 US Flagship store, 400+ stores within Macy's [48] [49] J. Crew: 2018–2020 54 Filed May 2020 492 [50] Barneys New York: 2019 15 Filed 2019, liquidated ...