J.C. Penney Closing 154 Stores

Steven Pickering
June 05, 2020 - 8:09 am

PLANO (1080 KRLD)- Plano-based J.C. Penney has announced it will close 154 stores across the country this summer as part of its restructuring process. The department store chain filed for Chapter 11 bankruptcy in May after temporarily closing hundreds of stores across the country during the COVID-19 pandemic.

As part of its reorganization process, company officials are working to trim the retailer's footprint. Seven stores in Texas have been targeted for closure. One is in Dallas on Skillman near Northwest Highway, and one is in the Music City Mall in Lewisville. The company will also close stores in Greenville, Lufkin, Palestine, Paris and Huntsville.

The closures will mean the loss of several thousand jobs. A bankruptcy judge is expected to approve the plan next week. It could take between 10 to 16 weeks for the stores to sell-off their remaining inventory. The company is expected to close more stores before it emerges from bankruptcy.