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On February 6, 2019, JCPenney said it would stop selling major appliances on February 28, and that furniture would be limited to online and stores in Puerto Rico. [66] 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.
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]
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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.
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 ...
In January 2015, it was announced the JCPenney store was closing in April as part of a plan to close 39 stores nationwide. As a result, the mall announced plans to demolish the former JCPenney and replace it with new retail space and a movie theater. [16] The interior of the mall closed on July 1, 2015, with Sears and Boscov's remaining open. [6]
On October 15, 2018, Sears announced that its store would be closing as part of a plan to close 142 stores nationwide as a result of the company filing for Chapter 11 bankruptcy. The store closed on January 7, 2019 leaving Macy's and JCPenney as the only remaining anchor stores open for business.
It remained open through the initial closing date, but on June 17 it was included in an updated list of 136 stores closing. [31] The JCPenney store officially closed in July 2020. On March 16, 2021, Industrial Commercial Properties purchased the Chapel Hill property [32] for $7 million, of which $844,085.24 went to the County to pay off ...