JCPenney is set to close multiple stores across the U.S. in a matter of weeks. By the end of May, seven stores of JCPenney will close, according to a statement by the departmental store chain.
Only the store in Annapolis’ Westfield Mall, Maryland will remain open. The statement by JCPenney read, “We are excited to announce that we have agreed a lease extension to keep the store open at least through August 31, 2025, and are in continuing negotiations with our landlord for a new long-term lease.”
Which shops are being closed?
JCPenney called the May closures “isolated” and stated there are “no plans to significantly reduce our store count.”
The seven stores that are announced to close are:
– Tanforan in San Bruno, California.
– Northfield in Denver, Colorado.
– Pine Ridge Mall in Pocatello, Idaho.
– West Ridge Mall in Topeka, Kansas.
– Fox Run in Newington, New Hampshire.
– Asheville Mall in Asheville, North Carolina.
– Charleston Town Center in Charleston, West Virginia.
Unrelated to the recent merger
The company stated previously that the closures are “unrelated to” the brand’s merger with the SPARC Group – the group that formed Catalyst Brands, an organization of 6 major retailers – in January this year.
SPARC Group owns Aéropostale, Brooks Brothers, Eddie Bauer, Lucky Brand, and Nautica.
CEO of Catalyst Brands and former CEO of JCPenney, Marc Rosen, said his “business brings together the rich heritage of six unique brands with modern energy and a new vision for success.”
JCPenney isn’t the only departmental store chain that has announced store closures. Big Lots announced last year that it was closing more than 300 stores in the U.S. During the COVID-19 pandemic, JCPenney filed for Chapter 11 bankruptcy as it agreed with lenders to reduce its debt and explore other sale options.
