After announcing in February that it would be closing several of its department store locations across the U.S., JCPenney has now confirmed that seven of those stores will permanently shut down this weekend. If you’re a customer of the brand, here’s a list of the locations closing so you can check if there’s one near you.
Which JCPenney stores are closing in May?
According to the company, the following seven stores will close by the end of the month:
California
- Tanforan store, 1122 El Camino Real, San Bruno
Colorado
- Northfield store, 8568 E 49th Avenue, Denver
Idaho
- Pine Ridge Mall store, 4201 Yellowstone Avenue, Pocatello
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Kansas
- West Ridge Mall store, 1821 SW Wanamaker Road, Topeka
North Carolina
- Asheville Mall store, 3 S Tunnel Road, Asheville
New Hampshire
- Fox Run Mall store, 50 Fox Run Road, Newington
West Virginia
- Charleston Town Center store, 401 Lee Street E, Charleston
In addition to these, the Annapolis Mall store in Maryland recently closed as well.
When will the JCPenney stores close?
These stores are scheduled to cease operations starting Sunday, May 25.
Why is JCPenney closing its stores?
The closures come amid a period of major transformation in the retail industry, which continues to grapple with the long-term impacts of the COVID-19 pandemic, the rapid rise of e-commerce, and shifting consumer habits.
Despite management’s efforts to revitalize the business, progress has been limited. Since filing for Chapter 11 bankruptcy in May 2020, JCPenney has downsized its footprint from about 850 stores to approximately 650. The company clarified that these closures are not related to its recent merger with Sparc Group, a retail operating consortium. The merger aims to stabilize and grow the business.
JCPenney’s History
JCPenney is a well-known American department store chain with a long-standing presence in shopping malls across the country. The company was founded on April 14, 1902, when James Cash Penney and his partners opened the Golden Rule store in Kemmerer, Wyoming. Within a few years, Penney bought out his partners and led the company’s expansion across the western U.S.
The company was officially incorporated as the JC Penney Stores Company in 1913, already operating 34 stores. In 1914, it moved its headquarters to New York City and went public in 1927. By 1929, JCPenney had over 1,300 locations.
Over the decades, JCPenney diversified its offerings—introducing credit sales in 1958, launching its catalog in 1963, and entering the pharmacy sector by acquiring Thrift Drug and later Eckerd Drug Corp., at one point operating thousands of pharmacies. The company also ventured internationally, opening stores in Belgium, Italy, Mexico, and Chile, though it shut down its international division in 2003. In 1988, the company relocated its headquarters to Plano, Texas.
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In the 2000s, JCPenney faced growing challenges from discount retailers and the 2008 financial crisis. The 2020 pandemic delivered a major blow, forcing store closures and leading to its bankruptcy filing. Later that year, it was acquired by Simon Property Group and Brookfield Asset Management for $800 million, beginning a new chapter for the iconic retailer.
How many stores does JCPenney have in the United States?
Currently, the department store chain has more than 650 locations across the country.
What is Chapter 11 of the U.S. Bankruptcy Code?
Chapter 11 of the U.S. Bankruptcy Code is one of the most common processes used by companies or individuals who are unable to meet their financial obligations but wish to reorganize and continue operating.
This process allows companies to continue their operations while temporarily suspending debt payments, with the goal of restructuring. Once the restructuring is completed, creditors are paid according to the terms established during the process.
Who can file for protection under Chapter 11?
This protection is available to businesses of all sizes, from large to small, as well as to sole proprietors and partnerships. Under U.S. law, any company or individual that has a domicile, place of business, or assets in the country can request court supervision to restructure their finances and operations under Chapter 11 provisions.
It does not matter the value of assets that a foreign company may have in the United States, as there is no minimum or maximum threshold to be eligible for Chapter 11 bankruptcy protection.
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