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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 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 ...
Another cited factor is the "death of the American middle class" represented by declining real wages and rising costs creating a middle-class squeeze, resulting in large-scale closures of retailers such as Macy's, JCPenney, and Sears which traditionally relied on spending from this market segment. [27]
The decline of Fred's was attributed in part to the aborted merger between the Walgreens Boots Alliance and Rite Aid in June 2017. [136] Fry's Electronics abruptly closed all 30 of its stores and its online operations on February 24, 2021. The chain had struggled with empty shelves and supplier issues during its final years of operation ...
JCPenney, Macy's, Joann: After a rough year of bankruptcies and store closures in 2024, retailers may face an even steeper uphill battle in 2025, experts say.. Just a month and a half into the new ...
JCPenney (colloquially Penney ... Also on May 21, JCPenney announced a net sales decline of 5.6% and a net loss of $154 million for its fiscal first quarter of 2019 ...
JCPenney closing 'handful' of stores: Here's what we know. Joann. Roughly 500 Joann stores are closing across the U.S. as the fabric and craft retailer struggles with bankruptcy.