J.C. Penney adds more stores to list of closed stores during the COVID-19 pandemic

J.C. Penney has added new locations to its list of closures amid the COVID-19 pandemic, bringing the current closings list to 150 locations.

What’s happened:

• J.C. Penney filed for Chapter 11 bankruptcy in May after a drop in sales and the COVID-19 pandemic.
• The company said it would close about 242 locations in bankruptcy.
• J.C. Penney said it would close 192 stores in 2020 and the rest next year, as I wrote for the Deseret News.
• Later, the company said 154 stores would close but ended up removing several locations.

According to USA Today, J.C. Penneywill close two new stores in New York:

• Brooklyn Kings Plaza, 5100 Kings Plaza.
• New York: Manhattan Mall, 100 W 32nd St.

J.C. Penney has asked for more time from lenders and buyers for negotiations over bankruptcy, according to Dallas Morning News.

Joshua Sussberg of Kirkland & Ellis said: “We’re going to need more time. Our conversations have been incredibly productive. We believe we will come to an agreement and solution and avoid the outcome no one wants.”