Here's where J.C. Penney plans to close stores this summer.
, across more than two dozen states. "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," Chief Executive Jill Soltau said in a statement.
Penney, like the many retailers deemed nonessential, was forced to temporarily close its stores due to the coronavirus pandemic, pushing it over the brink as its sales took an enormous hit and its debt swelled., and is now hoping to emerge as a smaller department store chain. The Texas-headquartered company said that as of June 4, it has reopened nearly 500 locations. When it filed for bankruptcy, it had roughly 860 stores. It also employed roughly 90,000 full- and part-time workers as of February. It wasn't immediately clear how many workers would be impacted by the looming closures.
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