Is JCPenney Going Out of Business

Ira A. Johnson

out of business

Robert BarnesGetty Images

  • JCPenney filed for bankruptcy on Friday, May 15.
  • In the midst of the coronavirus outbreak, JCPenney announced that it would close nearly 30% of its stores.
  • This summer, 154 stores will close.

    JCPenney recently celebrated its 118th birthday, but its latest financial news has shoppers wondering how much longer the struggling department store chain will keep its doors open. In wake of the coronavirus crisis, J.C.Penney Company, Inc filed for Chapter 11 bankruptcy, joining retailers like J. Crew and Neiman Marcus.

    This doesn’t come as a surprise, though. JCPenney was struggling long before the pandemic due to a rise in online shopping and the threat of big-box retailers like Walmart and Target. They even closed six stores earlier this year and posted a 5.5% decline in sales for the first three months of 2019. Since the start of 2011, the retailer has closed more than 20% of its stores and cut more than 40% of its staff, yet it still remains bigger than Macy’s, Dillard’s, and Nordstrom.

    CEO Jill Soltau claims the retailer was on the up-and-up earlier this year: “Until this pandemic struck, we had made significant progress rebuilding our company had already begun to pay off. Implementing this financial restructuring plan through a court-supervised process is the best path to ensure that JCPenney will build on its over 100-year history to serve our customers for decades to come,” she wrote in a company statement.

    While Soltou reiterates that the recent bankruptcy filing doesn’t mean that they’re going away for good, she made it clear that hundreds of their stores are closing as a result. In fact, 192 JCPenney locations are expected to close in 2020, and an additional 50 next year. That means, 29% of the retailer’s 846 stores (242 stores) will close by the end of 2021. The remaining 604 stores “represent the highest sales-generating, most profitable, and most productive stores in the network,” JCPenney said in the SEC filing.

    In the SEC filing, they confirmed that “stores will close in phases throughout the Chapter 11 process – and the first phase of closures, including specific store details and timing, will be disclosed in the coming weeks.” They will start by closing 154 stores across 38 states this summer. Stores are expected to hold closing sales for 10 to 16 weeks before shutting their doors for good.

    JCPenney store closures:

    Alabama

    • Andalusia: Covington Mall, River Falls Street
    • Florence: Regency Square, Cox Creek Parkway
    • Scottsboro: Jackson Square, South Broad
    • Spanish Fort: Spanish Fort Town Center, Town Center Ave.

      Arizona

      • Cottonwood: Little Creek Center, Highway 260
      • Phoenix: Christown Spectrum, W. Bethany Home Rd.
      • Tucson: El Con Shopping Center, E. Broadway

        Arkansas

        • Batesville: Independence Center, South St. Louis St.
        • Conway: Conway Towne Center, Skyline Dr.
        • El Dorado: Mellor Park Mall, N. West Ave.
        • Harrison: The Fashion Center, U.S. Highway 62-65 N.

          California

          • Chino: Rancho del Chino Shopping Center, Ramona Ave.
          • Delano: Main St.
          • Los Banos: San Luis Plaza, Pacheco Blvd.
          • Paso Robles: Woodland Plaza, Niblick Rd.
          • San Bernardino: Inland Center, Inland Center Drive
          • Tracy: West Valley Mall, Naglee Road
          • Turlock: Countryside Plaza, Countryside Dr.
          • Yreka: Yreka Junction Mall, Fort Jones Rd.

            Colorado

            • Durango: Durango Mall, S. Camino Del Rio
            • Fort Collins: Bockman Dr.
            • Greeley: Greeley Mall
            • Montrose: River Landing Shopping Center, Rio Grande Ave.

              Connecticut

              • Torrington: Torrington Commons, High St.

                Florida

                • Bradenton: Desoto Square Mall, Boulevard W
                • Cape Coral: Coralwood Shopping Center Del Prado Blvd.
                • Fort Myers: Gulf Coast Town Center, Gulf Coast Dr.
                • Jacksonville: Regency Square Mall, Arlington Expy
                • Lake Wales: Eagle Ridge Mall, Eagle Ridge Dr.
                • Mary Esther: Santa Rosa Shopping Center, Mary Esther Blvd.
                • Orlando: Orlando Fashion Square, E. Colonial Dr.
                • Sebring: Lakeshore Mall, U.S. 27 N.
                • Tampa: Westshore Plaza

                  Georgia

                  • Athens: Georgia Square, Atlanta Highway
                  • Atlanta: Northlake Mall, Briarcliff Rd. NE
                  • Douglasville: Arbor Place Mall, Douglas Blvd.
                  • Gainesville: Lakeshore Mall, Pearl Nix Pkwy.
                  • Rome: Mount Berry Mall, Mount Berry Sq. NE
                  • Statesboro: Statesboro Mall, Northside Dr.
                  • Waycross: Hatcher Point Mall, Memorial Drive

                    Idaho

                    • Lewiston: Lewiston Shopping Center, 19th Avenue
                    • Ponderay: Bonner Mall, Bonner Mall Way

                      Illinois

                      • Bourbonnais: Northfield Square, N. State RT 50
                      • Calumet City: River Oaks Shopping Center, River Oaks Center Dr.
                      • Carbondale: University Mall, E. Main
                      • Freeport: Freeport Mall, S. West Ave.
                      • Mt. Vernon: Times Square Mall

                        Indiana

                        • Bedford: Bedford Town Fair, James Ave.
                        • Elkhart: Concord Mall, S. Main St. (U.S. 33)
                        • Indianapolis: NW Pavilion, Michigan Rd.
                        • Kokomo: Kokomo Mall, E. Blvd.
                        • Madison: River Point Mall, E. Clifty Dr.
                        • Muncie: Muncie Mall, Granville Ave.
                        • Plymouth: Pilgrim Place Mall, Pilgrim Ln.
                        • Richmond: Richmond Square, National Rd. E
                        • Vincennes: Vincennes Plaza, Niblack Blvd.

                          Iowa

                          • Carroll: N. Adams St.
                          • Marshalltown: Marshalltown Mall, S. Center St.

                            Kansas

                            • Emporia: Flint Hills Village, Industrial Rd.
                            • Liberal: Liberal Plaza, N. Kansas Ave.
                            • Salina: Central Mall, S. 9th St.

                              Kentucky

                              • Campbellsville: Green River Plaza, Campbellsville Bypass
                              • Danville: Danville Manor Shopping Center, Houstonville Rd.
                              • Hopkinsville: Bradford Square, Ft. Campbell Blvd.
                              • Maysville: Market Square, U.S. 68 S. and AA Hwy.
                              • Middlesboro: Middlesboro Mall, N. 12th St.
                              • Owensboro: Town Square Mall, Frederica St.

                                Louisiana

                                • Lafayette: Acadiana Mall, Johnston St.
                                • Metairie: Lakeside Shopping Center, Veterans Memorial Blvd.
                                • Shreveport: Regal Court Shopping Center, Youree Rd.

                                  Maryland

                                  • Abingdon: Boulevard at Box Hill, Merchant Blvd.
                                  • Lanham: Woodmore Towne Center, McHugh Dr.
                                  • La Vale: Country Club Mall, Vocke Rd.

                                    Michigan

                                    • Alpena: Alpena Mall, U.S. 23 S
                                    • Cadillac: Cadillac Shopping Center, N. Mitchell St.
                                    • Petoskey: E. Mitchell St.

                                      Minnesota

                                      • Coon Rapids: Riverdale Village, Riverdale Blvd.
                                      • Eden Prairie: Eden Prairie Center, Flying Cloud Dr.
                                      • Maple Grove: Grove Square Shopping Center, Grove Dr.
                                      • Willmar: Kandi Mall, S. First St.

                                        Mississippi

                                        • Laurel: Sawmill Square Mall, Sawmill Rd.
                                        • Starkville: Starkville Crossing, Hwy. 12 W.

                                          Missouri

                                          • Independence: Bolger Square, E 39th St.
                                          • Kirksville: Kirksville Shopping Center, S. Baltimore St.

                                            Montana

                                            • Bozeman: Gallatin Valley Mall, W. Main St.

                                              Nebraska

                                              • Grand Island: Conestoga Mall, W. 13th St.

                                                New Hampshire

                                                • Keene: West Street Shopping Center, West St.
                                                • North Conway: Mountain Valley Mall, State Highway 16 & RT 302
                                                • Rochester: Lilac Mall (RT 125)
                                                • West Lebanon: Upper Valley Plaza, Plainfield Rd.

                                                  New Mexico

                                                  • Alamogordo: White Sands Mall, N. White Sands

                                                    New York

                                                    • Auburn: Finger Lakes Mall, Clark St. Rd.
                                                    • Batavia: Batavia City Center, Batavia City Ctr.
                                                    • Canandaigua: Roseland Shopping Center, State RT 364
                                                    • New Hartford: Sangertown Square Mall, Sangertown Sq.
                                                    • Oswego: Oswego Plaza, State Route 104
                                                    • Rome: Freedom Mall, Erie Blvd. W.
                                                    • Syracuse: Destiny USA, Destiny USA Dr.

                                                      North Carolina

                                                      • Henderson: Henderson Square, N. Cooper Dr.
                                                      • Lumberton: Biggs Park Shopping Center, N. Elm St.
                                                      • New Bern: Twin Rivers Mall, MLK Jr. Blvd.
                                                      • Raleigh: North Hills Shopping Center, Six Forks Rd.
                                                      • Rockingham: Richmond Plaza, E. Broad Ave.

                                                        Ohio

                                                        • Alliance: Carnation Mall, W. State St.
                                                        • Akron: Chapel Hill Mall, Brittain Rd.
                                                        • Akron: Tri County Plaza, Canton Rd.
                                                        • Ashtabula: Ashtabula Mall, N. Ridge Rd. E.
                                                        • Cincinnati: Governors Plaza, Fields Ertel Rd.
                                                        • Defiance: Northtowne Mall, N. Clinton St.
                                                        • E. Liverpool: Summit Square Shopping Center, Dresden Ave.
                                                        • Parma: The Shoppes at Parma, Day Dr.
                                                        • Piqua: Miami Valley Mall, E. Ash St.

                                                          Oklahoma

                                                          • Enid: Oakwood Mall, W. Owen K. Garriott Rd.
                                                          • McAlester: Tandy Town Shopping Center, E. Carl Albert Pkwy
                                                          • Midwest City: Town Center Plaza, SE 29th St.
                                                          • Muskogee: Arrowhead Mall, N. Main St.
                                                          • Shawnee: Shawnee Mall, N. Kickapoo Ave.
                                                          • Tulsa: Tulsa Promenade, S. Yale Ave.

                                                            Oregon

                                                            • Bend: Cascade Village, N. Hwy 97
                                                            • McMinnville: McMinnville Plaza, NE Hwy 99 W
                                                            • Roseburg: Garden Valley Mall, NW Garden Valley Blvd.
                                                            • Salem: Salem Center, Liberty St. NE

                                                              Pennsylvania

                                                              • Butler: Clearview Mall, Clearview Circle
                                                              • Hanover: North Hanover Mall, Carlisle St.
                                                              • Monaca: Beaver Valley Mall
                                                              • Monroeville: Monroeville Mall
                                                              • Tarentum: Galleria, Pittsburgh Mill Circle

                                                                South Carolina

                                                                • Anderson: Anderson Mall, N. Main St.
                                                                • Beaufort: Cross Creek Mall, Robert Smalls Parkway
                                                                • Florence: Magnolia Mall, David H. McLeod Blvd.
                                                                • Myrtle Beach: Myrtle Beach Mall, N. Kings Hwy.
                                                                • Orangeburg: Prince of Orange Mall, Chestnut St.
                                                                • Rock Hill: Rock Hill Galleria, Dave Lyle Blvd.

                                                                  South Dakota

                                                                  • Brookings: University Mall, 22nd Ave. S.

                                                                    Tennessee

                                                                    • Cleveland: Bradley Square, Paul Huff Pkwy.
                                                                    • Columbia: Columbia Mall, S. James Campbell Blvd.
                                                                    • Dyersburg: Dyersburg Mall, Lake Rd.
                                                                    • Kingsport: Kingsport Town Center, Ft. Henry Dr.
                                                                    • Maryville: Foothills Mall
                                                                    • McMinnville: Three Star Mall, Sparta St.

                                                                      Texas

                                                                      • Dallas: Timber Creek Crossing, Skillman St.
                                                                      • Greenville: Crossroads Mall, Wesley St.
                                                                      • Huntsville: West Hills Mall, Financial Plaza
                                                                      • Lewisville: Music City Mall, S. Stemmons FWY
                                                                      • Lufkin: Lufkin Shopping Center, S. Medford Dr.
                                                                      • Palestine: Palestine Mall, S. Loop 256
                                                                      • Paris: Mirabeau Square, Lamar Ave. Highway 82

                                                                        Utah

                                                                        • Layton: Layton Hills Mall, N. Hill Field Rd.
                                                                        • Logan: Cache Valley Mall, N. Main St.

                                                                          Vermont

                                                                          • Bennington: Bennington Square, 99 Bennington Sq.
                                                                          • Berlin: Berlin Mall, Berlin Mall Rd.

                                                                            Virginia

                                                                            • Danville: Danville Mall, Piedmont Dr.
                                                                            • Staunton: Colonial Mall, Lee Jackson HWY

                                                                              Wisconsin

                                                                              • Menomonee Falls: Crossroads Shopping Center, County Line Rd.

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