JCPenney plans to close stores in 2025

JCPenney expects to eliminate a "handful" more locations in the next months as it battles to stay up with quickly changing market circumstances.

"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 the company.

'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 spokesperson.

The corporation is shutting eight sites in as many states, blaming "expiring lease agreements" and "market changes."

According to SB360 Capital Partners, which handles liquidation sales, one shop in each of the following states will close: California, Colorado, Idaho, Kansas, Maryland, North Carolina, New Hampshire, and West Virginia.

The business stated that the closures were unrelated to its merger with SPARC Group, which owns Aéropostale, Brooks Brothers, Eddie Bauer, Lucky Brand, and Nautica and was announced last month.

In January, the firms decided to merge to become Catalyst Brands, which plans to build a portfolio of six retail brands.

The department company entered bankruptcy in 2020 and closed over 200 stores while it refinanced its debts.

The company also chose to shutter four further locations in August 2024.

However, the firm has recovered from its financial difficulties and recently announced a substantial change in its ownership structure.

In January, the firm stated that it will merge with many mall staple brands, including Aéropostale, Brooks Brothers, Eddie Bauer, Lucky Brand, and Nautica.

The locations set for closure, according to the report, include:

The Shops at Tanforan, 1122 El Camino Real San Bruno, California
The Shops at Northfield, 8568 East 49th Avenue, Denver, Colorado
Pine Ridge Mall , 4201 Yellowstone Ave., Pocatello, Idaho West Ridge Mall, 1821 SW Wanamaker Rd., Topeka, Kansas
Annapolis Mall, 1695 Annapolis Mall Rd., Annapolis, MD.
Asheville Mall, 3 S Tunnel Road, Asheville, North Carolina Mall at Fox Run, 50 Fox Run Rd., Newington, New Hampshire
Charleston Town Center, 401 Lee Street, East Charleston, West Virginia

According to its website, JCPenney presently maintains over 650 stores in the United States, including one at the Staten Island Mall in New Springville.