JCPenney Is Closing 15 More Stores by Next Spring—See if Yours Is on the List (2024)

The retailer filed for bankruptcy in May.

By Isabel GarciaPublished: Dec 18, 2020 4:46 PM EST

JCPenney Is Closing 15 More Stores by Next Spring—See if Yours Is on the List (1)

This article was originally published on 6/4/2020. It has been updated to reflect new information.

Near the end of May, JCPenney filed for Chapter 11 bankruptcy, announcing that it would permanently close about 30 percent of its stores. Since then, the retailer has already closed more than 150 locations. Now, it plans to close an additional 15 stores by the end of March 2021, USA Today reports.

The new store closures will take place in states across the country, some of which include Alabama, Arizona, Idaho, Illinois, Kentucky, and Massachusetts. "While store closure decisions are never easy, our store optimization strategy is intended to better position JCPenney to drive sustainable, profitable growth and included plans to close up to 200 stores in phases throughout 2020," the company said in its statement to the outlet.

The full list of store closures includes:

Alabama

Enterprise Shopping Center - Closing Spring 2021
Covington Mall - Closed
Regency Square - Closed
Jackson Square - Closed
Spanish Fort Town Center - Closed

Arizona

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JCPenney Is Closing 15 More Stores by Next Spring—See if Yours Is on the List (2024)

FAQs

What went wrong with JCPenney? ›

JCPenney has struggled with financial issues for years, including declining sales and mounting debt. These financial issues made it difficult for the company to invest in its stores and compete with other retailers.

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Is JCPenney being bought out? ›

J.C. Penney's retail arm was acquired through the bankruptcy court by Brookfield Asset Management and Simon Property Group. J.C. Penney emerged from bankruptcy in December 2020 with new owners, less debt and about 200 fewer stores.

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When did JCPenney go out of business? ›

With virtually all of its stores closed amid a nationwide lockdown, in May 2020, JCPenney's holding company filed for bankruptcy protection. It was a hard landing for this once-prominent retail giant that, at its height in 1973, operated more than 2,000 stores.

What company took over JCPenney? ›

After filing for Chapter 11 bankruptcy protection in May 2020, in September 2020, Brookfield Asset Management and Simon Property Group agreed to purchase the company for around $800 million in cash and debt. The deal was approved by the U.S. bankruptcy court for the Southern District of Texas two months later.

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Is JCPenney going to survive? ›

JCPenney, a stalwart in the industry, has managed to stay afloat alongside Macy's and Nordstrom, but recent data suggests troubling trends for the retailer. According to a financial filing with the SEC, JCPenney reported a significant decline in net sales and total revenue during the third quarter of fiscal 2023.

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Why is JCPenney so empty? ›

The company was unprofitable every year beginning in 2011 and its sales fell each year starting in 2015. In May of 2020, soon after the Covid-19 pandemic began and JCPenney was forced to close stores temporarily, the company filed for bankruptcy after 118 years in business.

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Are Kohl's and JCPenney merging? ›

Actually, no. According to Patch.com, "The JCPenney and Kohl's brands will remain separate with plans to streamline operations, merge IT systems and slash costs. All private apparel is set to be manufactured by the same label." So in laments terms: one company will own and operate both brands.

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How many JCPenney are left in the United States? ›

JCPenney proudly serves customers at more than 650+ stores across the United States and Puerto Rico, and at the Company's flagship store, jcp.com.

Get More Info Here ›

Who wants to buy Kohl's out? ›

Franchise Group , a publicly traded business with a market capitalization of about $1.6 billion, has entered into exclusive sale talks with Kohl's. It proposed a bid of $60 per share to acquire the retailer at a roughly $8 billion valuation.

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Where is James Cash Penney buried? ›

James Cash Penney died in New York City on February 12, 1971, at the age of ninety-five. He is buried at Woodlawn Cemetery in the Bronx.

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Which is older Sears or JCPenney? ›

Sears and JCPenney share three things in common. Each is old, with Sears founded in 1892 and JCPenney in 1898. For years, each was among the largest retailers in America.

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Does JCPenney still make money? ›

Despite its sales and profit declines, the company remains in the black. Moreover, the retailer's sales declines are lessening, GlobalData Managing Director Neil Saunders said by email. “The final quarter was the best of the year for JCPenney, which is a small crumb of comfort,” he said.

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Who is the original owner of JCPenney? ›

James Cash Penney

JCPenney / Founder

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Is JCPenney recovering? ›

Under new owners — mall companies Simon Property Group Inc. and Brookfield Property Partners LP — JCPenney shuttered nearly a quarter of its 850 stores. It now has roughly 650 stores. It has less than $500 million in debt, down from nearly $5 billion at the time of its bankruptcy filing, Rosen said.

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What is JCPenney's photo shoot? ›

Whether you're looking to capture a special milestone, update your family photo album, or simply create a lasting memory, JCPenney Portraits can help you make it happen. Our professional photographers will guide you through a variety of different poses and looks to create a personalized and memorable experience.

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What is the JCPenney controversy? ›

JC Penny, for example, has been hit with a class action lawsuit in the Southern District of California over its alleged advertising practice of using “false reference pricing.” The three-count complaint claims the nationwide retailer violated California's Unfair Competition Laws, False Advertising Laws, and Consumer ...

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Why did Ron Johnson fail at JCPenney? ›

It didn't take long for people to note that Johnson's no-coupons, no-sales experiment was failing to attract shoppers. Sales collapsed through early 2012, and by the summer, even Johnson acknowledged the stores had made a big mistake.

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Which of the following decisions led to the decline of JCPenney's? ›

JCPenney lost customers because of Johnson's strategy, which involved getting rid of the sales and promotions that long-time customers loved. The company reported that staggering decrease in an earnings release. Once customers are gone, it's difficult to get them back in stores.

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How much debt was JCPenney in? ›

JCPenney's debt of about $4 billion forced it into bankruptcy in May 2020. It now has $485 million in long-term debt and liquidity of $1.5 billion. Long-term debt was reduced by $500 million in December 2021.

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