JCPenney is preparing to close multiple stores in eight different states.
The company confirmed that stores will be shutting their doors this year in a statement shared with The Independent on Wednesday. However, JCPenney said that the move is “unrelated to” the brand’s recent merger with the SPARC Group, which formed helped Catalyst Brands, an organization of six major retailers.
“While we do not have plans to significantly reduce our store count, we expect a handful of JCPenney stores to close by mid-year,” a spokesperson for JCPenney said.
“The decision to close a store is never an easy one, but isolated closures do happen from time to time due to expiring lease agreements, market changes or other factors,” the representative continued. “We are grateful to our dedicated associates and the loyal customers who have shopped at these locations. We continue to work to make every dollar count for America’s diverse, working families and welcome them to shop at our other JCPenney stores in the area and at JCPenney.com.”
On its website, SB360 Capital Partners has posted the eight JCPenney stores — each in different states — that are being shut down. Here’s the list of department stores being closed and where they are:
-JCPenney at The Shops at Tanforan in San Bruno, California.
-JCPenney at The Shops at Northfield in Denver, Colorado.
-JCPenney at the Pine Ridge Mall in Pocatello, Idaho.
-JCPenney at West Ridge Mall in Topeka, Kansas.
-JCPenney at Annapolis Mall in Annapolis, Maryland.
-JCPenney at Asheville Mall in Asheville, North Carolina.
-JCPenney at Mall at Fox Run in Newington, New Hampshire.
-JCPenney at Charleston Town Center in Charleston, West Virginia.
In January, JCPenney confirmed its merger with SPARC Group — which owns Aéropostale, Brooks Brothers, Eddie Bauer, Lucky Brand, and Nautica — to create Catalyst Brands. Marc Rosen, formerly the chief executive officer of JCPenney who became CEO of Catalyst Brands, said his “business brings together the rich heritage of six unique brands with modern energy and a new vision for success.”
“Together, we bring scale, expertise and broad appeal to customers across America,” Rosen said in a statement at the time. “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.”
During the Covid pandemic, JCPenney filed for Chapter 11 bankruptcy as the company agreed with lenders to reduce its billions of dollars of debt and explore sale options.
