A BELOVED department store chain is set to close a raft of its outlets – but that does mean plenty of discounts for shoppers.
The closing dates are coming up this month for the handful of popular locations, however, one has been given a few more months of life.
The closing dates are coming up this month for the handful of popular locations, however, one has been given a few more months of lifeAFP - GettyIt’s not a good time to be in retail, as the bloodbath happening right now in the industry has left nobody safe.
This includes iconic US outlets like JCPenney, which is set to close seven stores on Sunday, May 25.
The locations were put on the chopping block earlier this year, as reported by The US Sun.
Discounts are currently being held as bosses rush to clear stock, with items listed as up to 70% off.
Various reasons have been given for why the stores are closing across the country.
For example, one outlet in California is being closed in a mall because the entire space is being turned into offices.
Other states that will be hit include North Carolina, Kansas and West Virginia.
NEW LEASE ON LIFE
But one store has been given a second chance, if only for a few more months.
It was thought that a spot in the Westfield Annapolis Mall in Annapolis, Maryland, would also be closing on May 25.
However, a lease extension agreement has changed those plans.
It has now been announced that the spot will be closing on August 31 instead, which gives shoppers a few months to enjoy it.
But liquidation sales have been stopped at that specific JCPenney, it’s important to note.
RECENT JCPENNEY MOVES
The closures come just months after JCPenney was acquired by the SPARC Group to form Catalyst Brands.
This also included other big names like Brooks Brothers, Aéropostale, Lucky Brand, Nautica and Eddie Bauer and Forever 21.
However, Forever 21 has since gone under and is about to go out of business for good.
Catalyst Brands was expected to open 1,800 store locations and hire 60,000 employees.
But it is now said that the merger is optimising its operation and cutting about 9% of its corporate roles.
JCPenney stores closing on or by May 25
The Shops at Tanforan in San Bruno, California The Shops At Northfield in Denver, Colorado Pine Ridge Mall in Pocatello, Idaho West Ridge Mall in Topeka, Kansas Fox Run Mall in Newington, New Hampshire Asheville Mall in Asheville, North Carolina Charleston Town Center in Charleston, West VirginiaMarc Rosen, the former JCPenney CEO, said: “Together, we bring scale, expertise and broad appeal to customers across America.
“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.”
It is important to note that the closures are not thought to be related to the merger.
Specifics have not been provided, however, a spokesperson previously told USA Today that individual store closures may occur due to “expiring lease agreements, market changes or other factors.”
AFPJCPenney is set to close seven stores on Sunday, May 25[/caption] Read More Details
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