J.C. Penney Closing 4 Minnesota Stores In First Phase Of Post-Bankruptcy
MINNEAPOLIS (WCCO/AP) -- J.C. Penney is closing four Minnesota locations as the company works to shrink its footprint after filing for bankruptcy amid the COVID-19 pandemic.
The Plano, Texas-based retailer announced Thursday that it is closing 154 stores across the country over the next several weeks as part of the first phase of reorganizing the business. Among the closing stores are three Twin Cities locations and one location in western Minnesota.
According to a list of the closing stores, the Minnesota locations being shuttered are:
-- The Riverdale Village location in Coon Rapids
-- The Eden Prairie Center location in Eden Prairie
-- The Grove Square location in Maple Grove
-- The Kandi Mall location in Willmar
Penney filed for bankruptcy protection last month, making it the biggest retailer to do since the coronavirus pandemic forced non-essential stores to be shut down for weeks. J.Crew and Neiman Marcus sought bankruptcy protection days before J.C. Penney. All three were laden with debt and had trouble connecting with shoppers, who are increasingly skipping the mall and shopping online.
As part of its bankruptcy reorganization, Penney said it planned to permanently close nearly a third of its 846 stores in the next two years. That would leave it with just over 600 locations.
(© Copyright 2020 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)
