J.C. Penney Bankruptcy Could Affect 52 Florida Stores: Report

FLORIDA — The iconic but struggling retailer J.C. Penney Co. is preparing to file for bankruptcy, perhaps as soon as next week, as the new coronavirus continues to take a toll on bricks-and-mortar retailers, Reuters reported. The report said the department store chain will close permanently about 200 of its 850 stores, but it’s unclear if any of Florida's 52 stores will be included.

J.C. Penney has Florida locations in:

• ALTAMONTE SPRINGS(1)
• AVENTURA(1)
• BOYNTON BEACH(1)
• BRADENTON(1)
• BRANDON(1)
• CAPE CORAL(1)
• CLEARWATER(1)
• CLERMONT(1)
• CORAL SPRINGS(1)
• DAVENPORT(1)
• DAYTONA BEACH(1)
• FORT MYERS(2)
• GAINESVILLE(1)
• HIALEAH(1)
• JACKSONVILLE(2)
• JENSEN BEACH(1)
• KISSIMMEE(1)
• LAKE CITY(1)
• LAKE WALES(1)
• LAKELAND(1)
• MARY ESTHER(1)
• MELBOURNE(1)
• MERRITT ISLAND(1)
• MIAMI(3)
• NAPLES(1)
• OCALA(1)
• OCOEE(1)
• ORANGE PARK(1)
• ORLANDO(2)
• PANAMA CITY(1)
• PANAMA CITY BEACH(1)
• PEMBROKE PINES(1)
• PENSACOLA(1)
• PLANTATION(1)
• POMPANO BEACH(1)
• PORT CHARLOTTE(1)
• SAINT PETERSBURG(1)
• SANFORD(1)
• SARASOTA(1)
• SEBRING(1)
• SPRING HILL(1)
• TALLAHASSEE(1)
• TAMPA(2)
• VERO BEACH(1)
• WELLINGTON(1)
• WESLEY CHAPEL(1)

The 118-year-old chain based in Plano, Texas, was struggling before the business shutdowns associated with the pandemic. The company has about $4 billion in debt and has been edged out of the marketplace by e-commerce companies and discount bricks-and-mortar stores, Reuters said.

As J.C. Penney navigates bankruptcy proceedings, the company is working with creditors for a “debtor-in-possession loan,” the Reuters report said.

J.C. Penney would be the third major retailer to seek bankruptcy protection since the pandemic began. The J.Crew Group filed for bankruptcy earlier this month, and Neiman Marcus said last week it was turning its business over to creditors who provided the company with $675 million in financing to continue operations.

» Read the full J.C. Penney report on Reuters.

Other chains that are closing some of their Florida stores include the Gap, Pier 1 Imports, Bed Bath & Beyond, Sears, Kmart, Motherhood Maternity, Dressbarn and more.

Macy's said in February that four Macy's locations at Pompano Beach, Sanford, Vero Beach and Miami are expected to close in the first part of 2020.

Seven Florida Pier 1 Imports stores are targeted for closure in the coming months, according to a published report and a list distributed to stores. The list, reviewed Tuesday, backs up a report by Business Insider published Jan. 15.

Related:

• Macy's Closing More Stores, 48 Florida Locations At Risk
• 4 Gap Clothing Stores In Florida Close
• 7 Florida Pier 1 Stores Marked For Closure
• Lucky's Market Closing All But One Florida Store
• NoVA, DC Store Closings By Chain Retailers In 2019