JC Penney announces 154 stores set to close this summer. Heres the full list. – CNBC

Here’s the total list of the 154 locations set to close, across more than 2 dozen states. (Also see a complete list of addresses listed below.)

It said it will announce extra closures in the coming weeks.

“While closing shops is constantly a very difficult decision, our store optimization technique is vital to ensuring we emerge from both Chapter 11 and the COVID-19 pandemic as a more powerful seller with greater financial flexibility to enable us to continue serving our loyal clients for years to come,” Chief Executive Jill Soltau stated in a statement.

It

declared Chapter 11 insolvency protection on May 15, and is now wishing to emerge as a smaller department store chain.

The Texas-headquartered company said that as of June 4, it has reopened nearly 500 areas. When it filed for insolvency, it had approximately 860 stores. It also utilized approximately 90,000 complete- and part-time employees as of February. It wasn’t immediately clear how many employees would be affected by the looming closures.

Penney, like the many sellers considered inessential, was forced to momentarily close its shops due to the coronavirus pandemic, pressing it over the edge as its sales took an enormous hit and its debt swelled.

Penney said it expects the store closing sales to last anywhere from 10 to 16 weeks.

Bankrupted J.C. Penney announced Thursday the list of the 154 shops it prepares to close this summer season, with shop closing sales kicking off June 12.

— CNBC’s John Schoen finished this information visualization.

, throughout more than 2 lots states. The Texas-headquartered business said that as of June 4, it has resumed nearly 500 places. When it submitted for insolvency, it had approximately 860 shops.

from WordPress https://ift.tt/3cyMvRk