CLOSING TIME
JCPenney confirms exact date when seven stores set to shut forcing customers to find alternatives
The U.S. Sun has revealed where JCPenney shoppers will be impacted by the closures
BOSSES at the renowned department store chain JCPenney have revealed when seven of its outlets are set to close.
Shoppers across the country will only have weeks before they have to find an alternative location.
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The select number of locations are set to close by May 25 at the latest, as reported by USA Today.
Bosses have revealed that the decision to close outlets is “never easy,” as reported by the NBC affiliate KNTV-TV.
Discount sales are being held across the country as bosses rush to clear stock.
The prices of items are being cut by up to 70%.
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Shoppers in states such as California, Colorado, Kansas, North Carolina and West Virginia are set to be impacted by the JCPenney store closures.
The decision to close the outlet in San Bruno, California, was announced back in January.
Chiefs decided to shut the store only years after the mall it is located in was sold in a deal worth $300 million, as reported by KRON-TV.
There are plans to transform the shopping mall into an office space.
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JCPenney locations in Denver, Colorado, and Topeka, Kansas, will soon become relics of the past.
Bosses are also winding down operations at locations in Asheville, North Carolina, and Charleston, West Virginia.
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While seven locations are to close by the end of May, one store has a reprieve.
It was expected that the brand’s Annapolis, Maryland, location would also close down on May 25.
But, it will remain open until August 31.
Chiefs have also decided to hit the brakes on the discount sales that were held at the store.
US braces for '45,000 store closures'
Some 45,000 bricks-and-mortar stores could close in the next five years, experts have warned.
Several major retailers have announced store closures or gone out of business altogether in recent years.
In 2023, chains such as Foot Locker announced plans to close up to 400 outlets by 2026.
While, other well-known retailers like Tuesday Morning and Mitchell Gold + Bob Williams filed for bankruptcy in 2023.
Bed Bath & Beyond has closed all of its brick-and-mortar stores and is now an online-only retailer.
The most affected retailers have been clothing, consumer electronics, sporting goods, hobby, book, music, and home furnishing stores since the start of 2019.
UBS has predicted the total number of retail stores will drop by 45k from 958k to 913k.
Despite that, the report says that certain stores should thrive while others decline.
It said retailers such as Walmart, Costco, Home Depot, and Target, could be among the winners.
The sweeping set of closures will come just months after the brand merged with the SPARC Group.
The deal means that a new brand, known as Catalyst Brands, was formed.
“Together, we bring scale, expertise and broad appeal to customers across America,” Marc Rosen, the former JCPenney CEO, said.
“For us, customers are at the heart of what we do. We have a shared belief that customers deserve fashion and style of great quality for any and every moment in life.
“We will leverage our resources and best-in-class industry talent to grow our brands further.”
The closures are not thought to be related to the merger.
JCPenney is not the only chain that is closing stores.
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Scores of underperforming Kohl’s outlets have closed for good as bosses trim the chain’s portfolio.
Forever 21 bosses and Party City chiefs are in the process of closing outlets after bankruptcy filings.