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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 COVID-19 pandemic exacerbated many issues affecting malls. [16] During the COVID-19 pandemic, many malls closed temporarily due to stay-at-home orders. [17] [18] A number of notable retailers filed for bankruptcy during the pandemic including Ascena Retail Group, Brooks Brothers, GNC, JCPenney, Lord & Taylor, and Neiman Marcus.
Enshittification, also known as crapification and platform decay, is the term used to describe the pattern in which online products and services decline in quality over time. Initially, vendors create high-quality offerings to attract users, then they degrade those offerings to better serve business customers, and finally degrade their services ...
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 said Thursday it plans to spend more than $1 billion by the end of 2025 in a bid to revive the storied but troubled 121-year-old department store chain. The money is going toward ...
That year, the company adopted the JCPenney style in advertising. [16] and its revenues reached $5 billion (equivalent to $37.6 billion in 2025) for the first time and catalog business made a profit for the first time. [17] JCPenney reached its peak number of stores in 1973, with 2,053 stores, 300 of which were full-line establishments. [17]