WASHINGTON–First, came the filing for bankruptcy by J.C. Penney. Now J.C. Penney executives say 154 of their stores will close soon, 9 of which are in Indiana.
That will include the store on Michigan Road in Indianapolis, as well as locations in Kokomo, Muncie and Richmond.
“While closing stores is always an extremely difficult decision, our store optimization strategy is vital to ensuring we emerge from both Chapter 11 and the COVID-19 pandemic as a stronger retailer with greater financial flexibility to allow us to continue serving our loyal customers for decades to come,” said J.C. Penney CEO Jill Soltau said in a news release.
Store closing sales are expected to take anywhere from 10-16 weeks. Last month, Soltau said they will close 192 stores by February 2021 and then 50 additional stores the year after that.
J.C. Penney is the biggest retailer to file for bankruptcy reorganization since the pandemic. They filed for Chapter 11 bankruptcy last month.
The Indiana locations that are closing are the following:
- Bedford Town Fair, Bedford
- Concord Mall, Elkhart
- NW Pavilion @ Michigan Road, Indianapolis
- Kokomo Mall, Kokomo
- River Point Mall, Madison
- Muncie Mall, Muncie
- Pilgrim Place Mall, Plymouth
- Richmond Square, Richmond
- Vincennes Plaza, Vincennes