JCPenney Closing 7 Stores Day Before Memorial Day
Earlier this year, JCPenney announced it partnered with Forever 21 to create a new company called Catalyst Brands in a merger that included Brooks Brothers, Aéropostale, Lucky Brand, Nautica and Eddie Bauer. Not long later, USA Today first reported the beloved retail brand would be closing a number of locations.
However, those closures are not related to the Catalyst Brands launch, which said it expects to open 1,800 store locations and hire 60,000 employees. While that venture takes off, JCPenney will be closing seven stores on May 25.
"The latest JCPenney closures, which were initially announced in February, come after more than 200 U.S. locations shuttered when the retailer filed for Chapter 11 bankruptcy protection in May 2020," USA Today said. "The chain was later acquired by Simon Property Group and Brookfield Asset Management Inc. in December 2020."
According to USA Today, the stores that will close on May 25 include The Shops at Tanforan in San Bruno, CA; The Shops At Northfield in Denver; Pine Ridge Mall in Pocatello, ID; West Ridge Mall in Topeka, KS; Fox Run Mall in Newington, NH; Asheville Mall in Asheville, NC; and Charleston Town Center in Charleston, WV.
In a previous announcement JCPenney revealed it would be closing its location in the Westfield Annapolis Mall in Annapolis, MD. However on May 19, a JCPenney spokesperson confirmed that through an extended lease agreement, the location will remain open through Aug. 31.
A specific reason for the closures was not immediately known, but JCPenney suggested individual store closures may occur due to "expiring lease agreements, market changes or other factors."
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