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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, 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 ...
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]
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 in February 2017 that it would close 138 stores in 2017. Liquidation sales began on May 22, and the stores closed by July 31. [ 168 ] Another 8 stores and a distribution center closed in 2018 while over 50 additional stores were expected to close between mid-2019 and late 2020.
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 ...
Soft margins, dismal comps and a high level of debt are likely to negatively impact J. C. Penney's (JCP) results in the near future. However, the company is making efforts to get back on track.
JCPenney (colloquially Penney's and abbreviated JCP) is an American department store chain with 656 stores across 49 U.S. states and Puerto Rico. [ 3 ] [ 4 ] It is managed as part of the Catalyst Brands portfolio alongside other apparel retailers such as Brooks Brothers and Eddie Bauer .