JCPenney confirmed Monday it will close 242 stores across the United States, coming just three days after filing for Chapter 11 bankruptcy, as the CCP virus pandemic continues to take its toll on brick-and-mortar retailers.
After the closings are completed, JCPenney will only operate just over 600 locations, down from 846, according to a document filed with the Securities and Exchanges Commission (SEC). The closures represent about 30 percent of the retailer’s stores, and they will be shuttered between the current fiscal year and the next fiscal year, according to The Associated Press.
