Retail News

Penney identifies 154 stores it is closing

The Dallas Morning News 06/04/2020

J.C. Penney identified 154 stores it is closing as part of its Chapter 11 bankruptcy reorganization. The retailer estimates it will take between 10 and 16 weeks to close the stores. “While closing stores is always an extremely difficult decision, our store optimization strategy is vital to ensuring we emerge from both Chapter 11 and the COVID-19 pandemic as a stronger retailer with greater financial flexibility to allow us to continue serving our loyal customers for decades to come,” said Penney CEO Jill Soltau in a statement.

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