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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 "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 ...
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 ...
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 ...
The luxury chain filed for Chapter 11 bankruptcy in the Southern Court of Texas in May 2020. [225] New York & Company shuttered all of its stores by late summer 2020 as a result of its parent company, RTW Retailwinds, filing for bankruptcy. [226] In October 2020, its remaining assets were sold to New York investment company Saadia Group. [227]
Exterior of the JCPenney store at the Stonebriar Centre in Frisco, Texas (2013) JCPenney headquarters in Plano, Texas (2014) In 2010, Vornado Realty Trust acquired a 9.9% stake in JCPenney but sold it in 2013 for $13.00 per share. [37] On January 24, 2011, JCPenney shut down its catalog business and 19 outlet stores. [38]
Unlike those other aforementioned businesses, retail was in an apocalypse before the pandemic.
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.