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More store closings have been announced for JCPenney, including a Mississippi and Texas store. The department store chain has closed 174 stores. JCPenney closing more stores after bankruptcy.
Party City closed 45 of its 870 stores in 2019, up from its usual 10 to 15 closures each year. [230] On January 18, 2023, Party City filed for Chapter 11 bankruptcy, [231] and a month afterward, announced the closure of 22 stores. An additional 9 stores were added to the closing list in April as well as 4 more locations in May. [232]
On February 28, JCPenney announced its intent to close 27 stores in 2019, including 18 full-line department stores and nine home-and-furniture stores. The closure announcement was paired with news that the retailer had suffered a 4% decline in same-store sales during the 2018 holiday quarter. [67]
Research published by global retail analyst IHL Group in 2019 suggests that the so-called retail apocalypse narrative was an exaggeration, with "more chains that are expanding their number of stores than closing stores.” [7] That year, retailers in the United States announced 9,302 store closings, a 59% jump from 2018, and the highest number ...
Kojo Quartey: Store closures and expansions locally and nationally
On August 6, 2019 Sears announced that its store would be closing this location as part of a plan to close 26 stores nationwide. The store closed in October 2019. [5] On June 4, 2020, JCPenney announced that this location would close as part of a plan to close 154 stores nationwide, leaving Belk and Bealls as the only anchor stores in the mall.
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