The JCPenney at Santa Fe Place will survive the legacy retailer’s first stage of closures, which was announced Thursday and targets 154 of its 846 stores nationwide.
Another 90 stores could make the closure list in the coming weeks. If the Santa Fe JCPenney is added to the list, “We will get a plan together, but we don’t foresee that,” said Aimee Whitebear, marketing manager at Santa Fe Place.
The JCPenney at White Sands Mall in Alamogordo is the only New Mexico store set for closure for now as the company restructures following a May 15 filing for Chapter 11 bankruptcy protection. The Durango, Colo., store is also on the first closure list. Store-closing sales could start as soon as June 12, J.C. Penney Co. announced.
“The company expects additional phases of store closing sales will begin in the coming weeks,” a news release said.
J.C. Penney has 10 stores in New Mexico — in Santa Fe, Albuquerque, Alamogordo, Clovis, Farmington, Gallup, Hobbs, Las Cruces and Roswell. In its bankruptcy filing, the company indicated it planned to close a total of 242 stores in fiscal years 2020 and 2021.
“The approximately 604 future fleet represent the highest sales-generating, most profitable, and most productive stores in the network,” J.C. Penney said in its filing with the Securities and Exchange Commission.
