LOUISVILLE, Ky. (WDRB) -- J.C. Penney said Thursday that it will start closing 154 of its stores next week, including six in Kentucky and nine in Indiana, in what it is calling the first phase of its efforts to shrink its footprint.
Stores in Kentucky that will be closed include the one at Green River Plaza in Campbellsville; while Indiana stores that will be shuttered include the one at River Point Mall in Madison.
The Plano, Texas-based retailer said it could take about 10 to 16 weeks to complete the closures, which it said are part of its “store optimization strategy.”
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 temporarily. 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.
“While closing stores is always an extremely difficult decision, our store optimization strategy is vital to ensuring we emerge from both Chapter 11 and the COVID-19 pandemic as a stronger retailer with greater financial flexibility to allow us to continue serving our loyal customers for decades to come,” JCPenney CEO Jill Soltau said in a news release.
The Associated Press contributed to this report.
Copyright 2020 WDRB Media. All Rights Reserved.
