Yahoo Lifestyle Popular Department Store Shuttering Stores Across 8 States This Year—Everything We Know
JCPenney recently confirmed plans to shutter stores in eight states as the five-year anniversary of the company’s Chapter 11 bankruptcy filing approaches.
The popular department store chain will close eight store locations by mid-2025, a JCPenney spokesperson told Axios, though the company did “not have plans to significantly reduce our store count” at the time of the publication’s report on Tuesday, Feb. 11.
SB360 Capital Partners, a firm that says it “manages the complexities of retail liquidations and the closing of underperforming stores,” posted on its website a list of the JCPenney locations that will be closing. One store is expected to shutter in each of the following malls:
The Shops at Tanforan in San Bruno, Calif.
The Shops at Northfield in Denver, Colo.
Pine Ridge Mall in Pocatello, Idaho
West Ridge Mall in Topeka, Kan.
Annapolis Mall in Annapolis, Md.
Asheville Mall in Asheville, N.C.
Mall at Fox Run in Newington, N.H.
Charleston Town Center in Charleston, W.Va.
Discounts will be available at the stores before they close, according to SB360. While JCPenney announced a merger with Catalyst Brands last month, a company spokesperson told Axios that the eight anticipated store closures were “unrelated” to the move.
JCPenney’s latest store closure plans were revealed nearly five years after the company filed for Chapter 11 bankruptcy in May 2020. JCPenney had 846 stores at the time, according to CNN, a number that has since decreased to more than 650 locations in the U.S. and Puerto Rico.
Store closures have been common in the retail space over the last several years, with 7,325 stores estimated to have closed in 2024, according to Coresight Research data reviewed last month by CNBC. The retail advisory group has projected that major retailers will close about 15,000 stores in 2025.
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