The time for Jcpenney shopkeepers is ending as several stores are ready to be closed in a few weeks.
Seven stores in many states are ready to be closed by the end of May, according to a new statement by JCpenney received by IndependentThis marks a change from February when the company announced the closure of eight stores. Now, Westfield Annapolis Malls will be open in Annapolis, Maryland.
“We are excited to declare that we have agreed to a lease extension to keep the store open at least 31 August, 2025, and are in constant conversation with our landlord for a new long -term lease,” the statement said.
“At this time, the store liquidation phenomenon has been stopped.”
Jcpenney called seven closters “isolated” and further stated that “there is no plan to reduce the count of our store significantly.”
Seven stores slapped to close by the end of May include:
-Jcpenney San Bruno, shops in Tanforan in California.
–Jcpenney at shops in Northfield in Denver, Colorado.
-Pokatelo, Idaho in Japenney Pine Ridge Mall.
-Japenni Topecka, at West Ridge Mall at Kansas.
In the mall in Fox Run in Newtington, New Hampshire -jcpenney.
-Asheville in Japenney Ashville Mall, North Carolina.
-Japini, Charleston, West at Charleston Town Center in Virginia.
The company had earlier stated that the closure from the recent merger of the brand with the Spark Group was “unrelated”, in which the organization catalyst brands of six major retailed vendors were formed.
In January, Jcpenney confirmed its merger with the Sparc Group, which is the owner of Aéropostale, Brooks Brothers, Eddie Bauer, Luction Brand and Nautica to create a catalytic brand. Mark Rosen, formerly the Chief Executive Officer of JCPNNi, who became CEO of Catalist Brands, said that his business brings a new vision for the rich heritage and success of six unique brands with modern energy. ,
“Together, we bring scale, expertise and comprehensive appeal to customers across the US,” Rosen said in a statement at that time. “For us, the customer we are in his heart. We have a common belief that customer deserves the style of fashion and great quality for any moment in life. We will take advantage of our resources and best-in-class industry talent to grow our brands further.”
During the Kovid epidemic, JCpenney filed for bankruptcy as the company agreed to reduce its billions of dollars loans and find out sales options with lenders.
Former JCpenney Chief Executive Officer, Jill Soltau said, “We are ready to emerge as a strong retailer from chapter 11 and this epidemic, continuing to implement our plan for renewal, and continued to focus on meeting customers’ wishes and needs.”
JCpenney is not the only major retailer, which has been announced to close a handful of stores. Last year. Big Lots announced that it was shutting out more than 300 stores in the US, after the company announced a decline of 10 percent sales, reported that equal to about $ 205 million. In a later regulatory filing, the company said it would increase the number of store closures as part of a loan agreement to 315.
In December, the party city announced that it was closing all its stores in the US after 40 years of business. CEO Barry Litwin held a meeting on December 11 to announce the news with the employees, informing them that this would be the last day of their employment. Litvin said that the company, which had around 6,400 full -time and 10,100 part -time workers, would not give a break and the benefits would end.
According to a report published by Coresight Research in January, the store closure is expected to continue in 2025. Coresight Research hopes that the store closures increase to about 15,000 in 2025. In 2024, the US Store closed a total of 7,325, the highest since 2020, when there were about 10,000 closures.
