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JCPenney to close 15 more stores after exiting bankruptcy

JC Penney Bankruptcy
Posted at 6:34 PM, Dec 17, 2020

JCPenney announced in a blog post that it would be closing more stores after it already closed up to 200 since filing for bankruptcy in May.

"Following a comprehensive review of the JCPenney retail footprint, we announced several phases of store closures in 2020, part of our store optimization strategy that began in June and included plans to close up to 200 stores throughout our financial restructuring," the company announced in a blog post.

According to USA Today, the company will close an additional 15 stores by the end of March.

"While store closure decisions are never easy, our store optimization strategy is intended to better position JCPenney to drive sustainable, profitable growth," the company said.

JCPenney says they will continue to operate their flagship store and its online store to "ensure our valued customers continue to have access to the products and brands they need and want."

Mall owners Simon Property Group and Brookfield Property Partners acquired the department store chain in September.

For a complete list of all the stores closing, click here.