NORTHEAST FLORIDA, SOUTHEAST GEORGIA — JCPenney, which announced last month it had filed for bankruptcy, released a list of 154 stores it will close by the end of summer.
“Following a comprehensive evaluation of its retail footprint and a careful analysis of store performance and future strategic fit for the Company” JCPenney announced on Thursday it has made the “difficult decision” to close the stores as part of the first phase of its store optimization strategy.
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The store located at the Regency Square Mall in Jacksonville is one of the nine stores to close in Florida. In Waycross, Georgia, the location at the Hatcher Point Mall will also close.
To see the full state-by-state list of stores that are closing, click here.
According to the retailer’s website, store closing sales are expected to take 10 to 16 weeks to complete.
The company filed for Chapter 11 bankruptcy protection on May 15, and is hoping to emerge as a smaller department store chain, CNBC reported.
JCPenney announced May 28 its reopening of stores in several states across the country, after the coronavirus pandemic caused stores to close temporarily.
Despite its iconic 118-year legacy, the Plano, Texas-based company was already struggling with a roughly $4 billion debt load and increased competition from online retailers before the virus forced widespread stay-at-home orders, crippling what remained of foot traffic.
So sad. After 53-years the JC Penney store at the Regency Square Mall will close. It was one of the original anchor stores when the mall opened in 1967. pic.twitter.com/AELCbwHa6h
— Phil Amato (@PhilAmatoANjax) June 5, 2020
