Latest news with #CatalystBrands
Yahoo
26-05-2025
- Business
- Yahoo
JCPenney Closing 7 Stores Day Before Memorial Day
A beloved retail giant is closing several locations as American shoppers choose to remain in the comfort of their own homes to shop online for what major departments stores have to offer. 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."
Express Tribune
21-05-2025
- Business
- Express Tribune
JCPenney stores closing: Find out full list of stores to close by May 25
Listen to article JCPenney is set to close seven more stores across the United States on Sunday, May 25, continuing the retailer's long and complex journey of restructuring after years of financial struggles. These latest closures affect locations scattered across the country, including malls in San Bruno, California; Denver, Colorado; Pocatello, Idaho; Topeka, Kansas; Newington, New Hampshire; Asheville, North Carolina; and Charleston, West Virginia. This round of closures is part of the aftermath of JCPenney's Chapter 11 bankruptcy filing in May 2020, a critical moment that came after years of declining sales, changing consumer habits, and fierce competition from e-commerce giants and fast-fashion retailers. In the wake of the bankruptcy, JCPenney shuttered more than 200 stores nationwide and underwent major ownership changes when Simon Property Group and Brookfield Asset Management acquired the chain later that year. Since then, the company has been working to redefine its brand and business model. Early this year, JCPenney merged with Forever 21 and several other well-known apparel brands including Brooks Brothers, Aeropostale, Lucky Brand, Nautica, and Eddie Bauer, forming a new parent company called Catalyst Brands. This merger was designed to leverage synergies between these retailers, aiming to operate roughly 1,800 store locations and create tens of thousands of jobs. Despite this ambitious partnership, JCPenney emphasizes that the newest store closures are unrelated to the Catalyst Brands merger. Instead, the company attributes these decisions to typical factors like expiring lease agreements, evolving market conditions, and other operational considerations. For instance, JCPenney had earlier planned to close its Westfield Annapolis Mall location in Maryland but recently extended the lease through August 31, signaling that some stores may remain open depending on business circumstances. A spokesperson for Catalyst Brands also indicated that the company is optimizing its corporate structure, which has resulted in about a 9% reduction in corporate roles. This reflects ongoing efforts to streamline operations and focus resources where they are most needed amid a rapidly changing retail landscape. As JCPenney moves forward, these closures underscore the challenges traditional department stores face in adapting to new shopping behaviors and economic pressures. For customers in affected cities, the May 25 shutdown will mark the end of an era, while the retailer continues its search for a sustainable path ahead. The full list of stores closing on May 25 are:
NDTV
21-05-2025
- Business
- NDTV
US Department Store JCPenney To Close 7 Stores Across The Country, Check Impacted Locations
American department store chain JCPenney will permanently close seven of its locations across the United States by May 25, 2025. According to NBC News, the latest store closures, which were first announced in February, come after more than 200 US locations shuttered when the retailer filed for Chapter 11 bankruptcy protection in May 2020. The firm has emphasised that these specific closures are due to factors like expiring lease agreements and market changes, underscoring the challenges faced by traditional brick-and-mortar stores in the current retail environment. "The decision to close a store is never an easy one," JCPenney previously said in a statement. "We are grateful to our dedicated associates and the loyal customers who have shopped at our San Bruno location. We continue to work to make every dollar count for families across America and welcome them to shop at our other JCPenney stores in the area and at the statement added, per NBC News. The closures will impact the following locations: Tanforan in San Bruno, California Northfield in Denver Colorado Pine Ridge Mall Idaho West Ridge Mall Kansas Fox Run New Hampshire, Asheville Mall Charleston Town Centre Earlier this year, the company announced it would be closing its location in the Westfield Annapolis Mall in Annapolis, Maryland. But on May 19, a JCPenney spokesperson confirmed that through an extended lease agreement, the location will remain open through August 31. Notably, JCPenney has faced financial struggles in recent years, including a Chapter 11 bankruptcy filing in 2020. In January, JCPenney merged with the multi-brand retailer SPARC Group to form Catalyst Brands, uniting six retail names including Aeropostale, Brooks Brothers, Lucky Brand and more. According to USAToday, Catalyst Brands was expected to open 1,800 store locations and hire 60,000 employees. A Catalyst Brands spokesperson previously said that the umbrella company is "optimising" its structure, resulting in the cut of about 9% of its corporate roles.
Newsweek
20-05-2025
- Business
- Newsweek
JCPenney Set to Close Stores in Five Days: See List of locations
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. JCPenney will shutter seven of its retail locations across the United States on Sunday, May 25, as the company continues restructuring efforts following its 2020 bankruptcy filing. The closures mark another chapter in the retailer's ongoing transformation amid a challenging retail environment shaped by shifting consumer behavior, rising operational costs, and the continuing decline of mall-based shopping. The seven JCPenney locations span California to West Virginia and were first flagged for closure earlier this year. Why It Matters The JCPenney store closures underscore continued instability in traditional brick-and-mortar retail, especially for department stores historically reliant on mall traffic. The latest shutdowns are all taking place in mall-based locations. Which JCPenney Locations Are Closing? According to USA Today, the following stores are scheduled to permanently close on May 25: The Shops at Tanforan in San Bruno, California The Shops at Northfield in Denver, Colorado Pine Ridge Mall in Pocatello, Idaho West Ridge Mall in Topeka, Kansas Fox Run Mall in Newington, New Hampshire Asheville Mall in Asheville, North Carolina Charleston Town Center in Charleston, West Virginia These closures follow the retailer's February announcement about scaling back operations in selected markets. One JCPenney store previously listed for closure in Annapolis, Maryland, will remain open until at least August 31, after the company negotiated an extended lease agreement. A JCPenney store located at Fashion Valley in San Diego, California, as seen on December 13, 2024. A JCPenney store located at Fashion Valley in San Diego, California, as seen on December 13, Is JCPenney Closing? In the wake of the COVID-19 pandemic and broader economic pressures, JCPenney's store footprint has dramatically decreased. Since its Chapter 11 filing in 2020, the retailer has closed more than 200 stores. Despite those reductions, the company continues operating hundreds of locations nationwide, while experimenting with new brand collaborations under the Catalyst Brands umbrella. The company was purchased in late 2020 by Simon Property Group and Brookfield Asset Management following its bankruptcy. All the stores affected by this round of closures are inside malls, a format under increasing strain. Simon Property Group, a leading mall operator, has acknowledged a 5 percent drop in mall occupancy over the past two years. The closures also follow a recent partnership between JCPenney and fashion brand Forever 21, part of a strategy to form Catalyst Brands, which includes labels like Brooks Brothers, Aéropostale, and Lucky Brand, per a January press release. What Happens Next Customers can still access JCPenney's online store and remaining retail outlets across the United States. In the short term, the company is focusing on sales through May 25, with expected discounts on apparel and home goods.
Yahoo
20-05-2025
- Business
- Yahoo
JCPenney store closures: 7 locations shuttering May 25. Here's where
Seven JCPenney stores spread across the country will close their doors for good this weekend. The latest JCPenney closures, which were first announced in February, come after more than 200 U.S. locations shuttered when the retailer filed for Chapter 11 bankruptcy protection in May 2020. The chain was later acquired by Simon Property Group and Brookfield Asset Management Inc. in December 2020. In January, JCPenney announced it had partnered with Forever 21 to create a new company called Catalyst Brands. The merger also includes Brooks Brothers, Aéropostale, Lucky Brand, Nautica and Eddie Bauer. Catalyst Brands was expected to open 1,800 store locations and hire 60,000 employees. A JCPenney spokesperson previously told USA TODAY that the store closures are not related to the Catalyst Brand merger. A Catalyst Brands spokesperson previously told USA TODAY that the umbrella company is "optimizing" its structure, resulting in the cut of about 9% of its corporate roles. Here's which JCPenney stores are closing this year. Each of the following stores are set to close on May 25, a JCPenney spokesperson told USA TODAY on Monday, May 19: The Shops at Tanforan in San Bruno, California The Shops At Northfield in Denver, Colorado Pine Ridge Mall in Pocatello, Idaho West Ridge Mall in Topeka, Kansas Fox Run Mall in Newington, New Hampshire Asheville Mall in Asheville, North Carolina Charleston Town Center in Charleston, West Virginia Earlier this year, JCPenney had announced it would be closing its location in the Westfield Annapolis Mall in Annapolis, Maryland. But on May 19, a JCPenney spokesperson confirmed that through an extended lease agreement, the location will remain open through Aug. 31. While specifics were not provided, a JCPenney spokesperson previously told USA TODAY that individual store closures may occur due to "expiring lease agreements, market changes or other factors." Greta Cross is a national trending reporter at USA TODAY. Story idea? Email her at gcross@ This article originally appeared on USA TODAY: JCPenney store closure update: 7 locations shuttering on May 25 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
