Bankrupted J.C. Penney revealed Thursday the list of the 154 shops it prepares to close this summer season, with shop closing sales starting June 12.
It stated it will reveal extra closures in the coming weeks.
Here’s the total list of the 154 areas set to close, throughout more than 2 lots states. (Also see a complete list of addresses listed below.)
Penney stated it anticipates the shop closing sales to last anywhere from 10 to 16 weeks.
“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 stated in a declaration.
Penney, like the numerous sellers considered inessential, was required to briefly close its shops due to the coronavirus pandemic, pressing it over the verge as its sales took a huge hit and its financial obligation swelled.
It declared Chapter 11 insolvency security on May 15, and is now wanting to become a smaller sized outlet store chain.
The Texas-headquartered business stated that since June 4, it has actually resumed almost 500 areas. When it declared insolvency, it had approximately 860 shops. It likewise utilized approximately 90,000 complete- and part-time employees since February. It wasn’t right away clear the number of employees would be affected by the looming closures.
—CNBC’s John Schoen finished this information visualization.