JC Penney Set to Close More Than 240 Stores
JC Penney have announced plans to shutter roughly 30% of their locations across the U.S. According to nwitimes.com, the company intends to close 192 stores by February 2021, with 50 more to follow in the year after that.
The announcement comes in the wake of the retailer filing for bankruptcy protection last Friday, May 15.
While the largest retailer to file for bankruptcy protection during the coronavirus pandemic, JC Penney is one of several that have struggled recently. Just a few days before JC Penney filed, both J. Crew and Neiman Marcus filed for bankruptcy protection as well.
The company didn’t specify which locations would be closing, so we’ll have to wait and see what happens to the location here in Wichita Falls.