Bankrupt J.C. Penney plans to permanently shutter 154 stores across the U.S., with going-out-of-business sales set to begin at those locations on June 12. The 118-year-old retailer plans to close a total of 242 locations by the fall.
J.C. Penneyin May. It was one of many brick-and-mortar stores forced to temporarily close locations in April and May as the raced across the U.S. Although the shutdowns pushed the retailer closer to insolvency, the company had been struggling for years with changing consumer tastes and a shift to ecommerce.
J.C. Penney CEO Jill Soltau said the