Currently bankrupt, on Thursday JC Penney announced plans to close more than 150 stores, including its store in Paso Robles.
As a nonessential retail store, JC Penny was forced to close its store because of the pandemic. On May 15, the company filed for Chapter 11 bankruptcy protection. The company is hoping to emerge as a smaller department store chain.
“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 Chief Executive Jill Soltau.
The closing sales are expected to last anywhere from 10 to 16 weeks.