JCpenNe is getting ready to shut a number of shops in eight totally different states.
The firm confirmed it shops will shut the doorways this 12 months in a shared declaration with The Independent on Wednesday. However, Jcpenney mentioned that the transfer is just not “unrelated” the current merger of the model with the SPARC groupWhich has fashioned it helped Catalyst Brands, a corporation of six principal retailers.
“Even if we don’t plan to considerably cut back the variety of retailers, we plan {that a} handful of JCPenney shops will shut by the center of the 12 months,” mentioned a JCPENNEY spokesman.
“The resolution to shut a store is rarely straightforward, however the remoted closures happen occasionally as a consequence of expiring leasing agreements, market modifications or different elements,” continued the consultant. “We are grateful to our devoted collaborators and devoted prospects who’ve made purchases in these areas. We proceed to work to make every greenback for the totally different American households and that we welcome them to buy in our different JCPENNEY shops within the space and on JCpenney.com. “
On its web site, SB360 Capital Partners He has revealed the eight JCPENNEY shops – every in a number of states – who’re closed. Here is the record of closed warehouses and the place they’re:
-Jcpeney within the retailers of Tanforan in San Bruno, California.
-JCpenNey in Northfield shops in Denver, Colorado.
-Jcpeney on the pine ridge mall in Pocatello, Idaho.
-Jcpeney at West Ridge Mall in Topeka, Kansas.
-JCpeney on the Annapolis procuring middle in Annapolis, Maryland.
-JCpenNEY at Asheville Mall in Asheville, within the North Carolina.
-Jcpeney on the Fox Run procuring middle in Newington, New Hampshire.
-Jcpeney on the middle of Charleston in Charleston, West Virginia.
In January, Jcpenney confirmed his merger with the Sparc group – which owns Aéropostale, Brooks Brother, Eddie Bauer, Lucky Brand and Nautica – to create Catalyst manufacturers. Marc Rosen, former CEO of Jcpenney, who grew to become CEO of Catalyst Brands, mentioned that his “Business brings collectively the wealthy heritage of six distinctive manufacturers with fashionable power and a brand new imaginative and prescient for achievement”.
“Together, we deliver staircase, competence and broad enchantment to prospects all through America,” Rosen mentioned in an announcement for the time being. “For us, prospects are on the middle of what we do. We have the shared perception that prospects deserve vogue and nice high quality type for any time of life. We will exploit our assets and abilities of the most effective sector to additional develop our manufacturers. “
During the Covidid pandemic, Jcpeney offered the failure of chapter 11 as The company has agreed with the lenders to reduce its billion dollars of debt and explore the sales options.
