JCPenney to close stores in Indianapolis, Bedford, Kokomo, Muncie, Richmond
INDIANAPOLIS (WISH) — A J.C. Penney Co. store on the city’s northwest side is among nine Indiana locations to close after the longtime retailer filed for bankruptcy in mid-May.
The store at NW Pavillion @ Michigan Road, 8752 Michigan Road, will be among 154 JCPenney closing in the first phase of store reductions, the retailers said. Others in Indiana to close are in Bedford, Elkhart, Kokomo, Madison, Muncie, Plymouth, Richmond and Vincennes. Closing sales will start immediately.
On May 15, Penney announced it wants to reorganize its business affairs, debts and assets as a result of the coronavirus pandemic.
A news release said, “The Company expects additional phases of store closing sales will begin in the coming weeks. As the Company remains focused on its Plan for Renewal and driving sustainable, profitable growth, it intends to reduce its store footprint and focus resources on its strongest stores and powerful eCommerce flagship store, jcp.com. Store closing sales for the first round of store closures are expected to take 10-16 weeks to complete.”
Jill Soltau, chief executive officer of JCPenney, said in a statement that the goal is to emerge “as a stronger retailer with greater financial flexibility to allow us to continue serving our loyal customers for decades to come.”
Soltau also expressed thanks to employees. “ All impacted associates will be treated with the utmost consideration and respect,” she said in the statement.