The Plano, Texas-centered retailer mentioned it could choose about 10 to sixteen months to total the closures. A list of the stores closing was posted on Penney’s internet site.
Penney submitted for bankruptcy defense final thirty day period, making it the most significant retailer to do since the coronavirus pandemic compelled non-essential stores to be shut down briefly. J.Crew and Neiman Marcus sought bankruptcy defense days prior to J.C. Penney. All three had been laden with personal debt and had issues connecting with buyers, who are progressively skipping the shopping mall and searching on-line.
As portion of its bankruptcy reorganization, Penney mentioned it prepared to permanently near virtually a 3rd of its 846 stores in the following