JCPenney stores are shutting down all across the country. This Memorial Day weekend will be no different, as seven different locations will see a forever shutdown of JCPenney outlets.
Ever since JCPenney filed for bankruptcy back in 2020, it has closed several hundred stores across different locations in the United States, with the process still ongoing this Memorial Day weekend. According to a JCPenney spokesperson, there are multiple reasons for the shutdown of these stores in recent months.
In a previous report by The Mirror US, the spokesperson is quoted as saying, "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 was quoted as saying, as reported by The Mirror US."
Which stores are closing down this Memorial Day weekend?
On May 25, the following JCPenney locations will close down forever, according to company officials:
- 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 Virginia
What are the reasons for the shutdown?
{{/usCountry}}On May 25, the following JCPenney locations will close down forever, according to company officials:
- 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 Virginia
What are the reasons for the shutdown?
{{/usCountry}}JCPenney has been trying hard to stay afloat since 2020, when it first filed for bankruptcy. However, there are multiple reasons why the company's business was hit hard.
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For starters, JCPenney's core customers are budget-conscious families, whose median income ranges from $50,000 to $75,000. The customer base was hit hard by rising costs of products of basic items, and high interest rates, which in turn affected JCPenney's business, says a Fox News report. JCPenney even joined forces with other malls, including the likes of Aéropostale, Brooks Brothers, and Eddie Bauer, in order to keep up its business.