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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.
JCPenney announced plans to close more than 200 locations across the country after the retailer filed for Chapter 11 bankruptcy protection in May 2020. The chain was later acquired by Simon ...
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.
The 118-year-old department store JCPenney is the latest to file for bankruptcy protection amid the coronavirus pandemic. The Texas based retailer has accrued nearly $4 billion in debt and will ...
Filed July 2020 171 [68] [69] [70] Bed Bath & Beyond: 2023 360 Filed April 2023 None (all US & Canada stores liquidated by July 2023) Express, Inc. 2024 100 Filed April 2024 [71] Party City: 2023 & 2024 700 — all company-owned stores 1. Filed January 2023 2. Filed December 2024 ≤150 (franchisee stores only) Jo-Ann: 2024 & 2025 800 1. Filed ...
On April 17, 2018, The Bon-Ton announced plans to go out of business after being purchased by two liquidators. [73] Borders, which included its namesake chain, along with Waldenbooks, filed for bankruptcy and closed all of its stores in 2011. [74] Brooks Brothers filed for Chapter 11 bankruptcy in July 2020. [75]
Unlike those other aforementioned businesses, retail was in an apocalypse before the pandemic.
On May 15, 2020, JCPenney filed for Chapter 11 bankruptcy and announced that there would be an additional 242 store closings, blaming the COVID-19 pandemic for its action. By June 17, JCPenney reopened approximately 827 stores; most of the 154 scheduled for permanent closure in 2020 were among those reopened, with final closing sales in progress.