More JCPenney Stores Closing, 9 In Florida To Shut Down

FLORIDA — Weeks after filing for bankruptcy, JCPenney has announced it will close 154 locations nationwide, including nine stores in Florida. The news came Thursday as company officials said the closings are part of its "store optimization strategy."

With a June 11 hearing in its bankruptcy case approaching, JCPenney said, "Following a comprehensive evaluation of its retail footprint and a careful analysis of store performance and future strategic fit for the Company, JCPenney identified the first phase of 154 store closures."

In Florida, locations set to close include:

• Desoto Square Mall, 303 301 Blvd W, Ste 701, Bradenton
• Coralwood Shopping Center, 2301 Del Prado Blvd, Ste 700, Cape Coral
• Gulf Coast Town Center, 10083 Gulf Center Dr, Fort Myers
• Regency Square Mall, 9501 Arlington Expy, Ste 105, Jacksonville
• Eagle Ridge Mall, 501 Eagle Ridge Dr, Lake Wales
• Santa Rosa Shopping Center, 300 Mary Esther Blvd., Mary Esther
• Orlando Fashion Square, 3115 E Colonial Dr, Orlando
• Lakeshore Mall, 901 US 27 N, Ste 150, Sebring
• Westshore Plaza, 201 Westshore Plaza, Tampa

Store closing sales are expected to take 10 to 16 weeks to complete.

J.C. Penney's announcement of the store closures this week follows the company's declaration of bankruptcy in May.

The 118-year-old retailer reported it is reducing its brick-and-mortar retail footprint to focus on its strongest stores as well as its website.

"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," Jill Soltau, J.C. Penney's chief executive officer, said in a statement.

As of this week, JCPenney has reopened nearly 500 stores that had closed down during coronavirus stay-at-home orders across the country.

Many other national retailers are struggling, too. In February, Macy's said it plans to close 125 stores over the next three years, representing a fifth of the retail giant's locations, according to a report. So far it's unknown which locations will be shuttered in this latest round of closings, but it could impact some of the 48 Macy's stores in Florida.

The JCPenney and Macy's closings are part of a growing list of brick-and-mortar establishments that have seen a nosedive in revenue and popularity with the emergence of e-commerce companies such as Amazon and Walmart.

Chains that are shuttering Florida stores include Pier 1 Imports, Bed Bath & Beyond, Papyrus, Gap, Motherhood Maternity, Dressbarn and more.

A record 9,300-plus store closings were announced in 2019, and that number could be even higher in 2020, according to a report by Business Insider.

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