JC Penney closing 154 stores in first post-bankruptcy phase
By JOSEPH PISANI
AP Retail Writer
NEW YORK (AP) - J.C. Penney says it is closing 154 stores nationwide in what it is calling the first phase of its efforts to shrink its footprint. The Plano, Texas-based retailer said it could take about 10 to 16 weeks to complete the closures. 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. 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.
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