JCPenney announced last week that it would close 136 across the country and on Monday announced 13 more would be closed. In the 149 total closures in the past five days, ten of the locations are in Michigan.
JCPenney announced the closures last week as part of its restructuring after filing for bankruptcy in May.
According to CNN, of the 13 new closures announced on Monday, seven of them are in Michigan: Greenville, Owosso, Big Rapids, Alma, Bay City, Mt. Pleasant, and Okemos. JCPenney's site also lists stores in Alpena, Cadillac, and Petoskey as also closing.
The company says it expects to start liquidation sales around July 3 but shoppers are asked to contact the store for more information. All stores are operating under reduced hours of Monday through Saturday, noon to 7 p.m., and Sunday, 11 a.m. to 6 p.m.
The 118-year-old department store chain expects to announce additional store closures and related sales in the coming weeks, the statement said. Moreover, the company suggests the first round of store closures will take 10 to 16 weeks to complete.
Shuttering stores is JCPenney’s strategy for survival at this point in time. The company’s “Plan for Renewal” is focused on its high-performing stores and e-commerce to get it back on track, which means sacrificing its store footprint in locations that aren’t doing as well.
In mid-May, JCPenney inked a restructuring deal with its creditors – who reportedly hold approximately 70 percent of the department chain’s first-lien debt – to protect the company.
More recently, nearly 500 JCPenney stores have reopened after local governments throughout the country began easing coronavirus lockdown measures.