JCPenney, one of the most popular department store chains in the country, is closing down a total of 8 locations due to various reasons. The company has filed for Chapter 11 bankruptcy in the past, hinting at its financial struggles. The decision of closures has been made as an attempt to restructure its business and adjust to changing consumer shopping habits. If you are someone who wants to know exactly when and which locations are shutting down, this article is for you. It brings you everything you need to know about the JCPenney stores closing.
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JCPenney Store Closing: Which Stores Are Closing And When?
According to what the JCPenney spokesperson said about the closures, the company is expected to close around 8 locations by mid-2025. The following is a list of the 8 JCPenney locations that are going to shut down this year.
- California: The Shops at Tanforan, San Bruno.
- Colorado: The Shops at Northfield, Denver.
- Idaho: Pine Ridge Mall, Pocatello.
- Kansas: West Ridge Mall, Topeka
- Maryland: Annapolis Mall, Annapolis
- North Carolina: Asheville Mall, Asheville
- New Hampshire: Mall at Fox Run, Newington
- New Virginia: Charleston Town Center, Charleston.
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Why Are The JCPenney Stores Closing?
The spokesperson from JCPenney did not really specify any particular reason why the stores are closing. However, they did mention how individual store closures occur due to expiring lease agreements, market changes, or other factors. The company filed for Chapter 11 bankruptcy in the month of May 2020. It has already closed around 200 stores during the reconstruction. Consumer preferences are also shifting, leaning more towards online shopping. Foot traffic in physical stores and malls has witnessed a significant fall. This has led the company to focus on the stores offering the highest profits. Many stores that are closing are located in malls. This means expiring lease contracts can also be a reason for the closures.
How Will The Store Closures Affect The Industry?
JCPenney is not the only departmental chain that is shutting down locations this year. The retail industry already seems like it is in shambles. According to Coresight Research, a total of 15,000 stores in America are going to close this year. This number is even double the number of stores that closed in 2024, which is 7,325. Many big names in the retail industry, including Macy’s, Kohl’s, Big Lots, and Party City, are also going through similar challenges, which have led to multiple store closures across the country.
What To Expect In The Future?
In the month of January 2025, JCPenney officially announced a partnership with Forever 21 creating a new company called Catalyst Brands. This merger also includes several other brands like Brooks Brothers, Aéropostale, Lucky Brand, Nautica, and Eddie Bauer. The newly formed company is expected to open around 1,800 store locations and hire 60,000 employees. The company did not officially announce mass closures of stores, but said individual store closures will continue according to the brand’s needs. Its future also depends on how the company will balance physical stores and e-commerce growth.
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