J.C. Penney Bankruptcy Could Affect 21 Georgia Stores: Report

GEORGIA — The historic but struggling retailer J.C. Penney Co. on Friday filed for bankruptcy as the new coronavirus continues to take a toll on bricks-and-mortar retailers, CNN reported. A Reuters report said the department store chain will close permanently about 200 of its 850 stores, but it’s unclear if any of Georgia's 21 stores will be included.

J.C. Penney has Georgia locations in:

• ALBANY(1)
• ALPHARETTA(1)
• ATHENS(1)
• ATLANTA(1)
• AUGUSTA(1)
• BUFORD(1)
• CENTERVILLE(1)
• COLUMBUS(1)
• DOUGLASVILLE(1)
• FAYETTEVILLE(1)
• GAINESVILLE(1)
• HIRAM(1)
• KENNESAW(1)
• LITHONIA(1)
• MCDONOUGH(1)
• NEWNAN(1)
• ROME(1)
• SAVANNAH(1)
• STATESBORO(1)
• VALDOSTA(1)
• WAYCROSS(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 is 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 Georgia stores include the Gap, Pier 1 Imports, Bed Bath & Beyond, Sears, Kmart, Dressbarn and more.

Other chains that are closing some of their Georgia stores include Papyrus, a stationery retailer, is closing all of its stores across the country. The chain operated two Atlanta stores at Lenox Square and Phippps Plaza.

Pier 1 closed half of its stores to "better align its business with the current operating environment." Eleven Georgia stores, including two in Atlanta, one in Decatur, one in Marietta and one in Douglasville, were removed from the chain's website. The company confirmed on social media the stores removed from the website were slated for closure. Patch has posted the full list of the 11 Pier 1 stores expected to close.

Motherhood Maternity: As Destination Maternity continues through its Chapter 11 bankruptcy protection case, the company said it plans to close 201 Destination Maternity and Motherhood Maternity stores across the country, including a handful in Georgia. USA Today reports the company said it plans to close stores at the following locations: Atlanta - Motherhood Maternity; Newnan - Motherhood Maternity; Dawsonville - Motherhood Maternity Outlet; Columbus - Motherhood Maternity; and McDonough - Motherhood Maternity.

Forever 21: In late September, clothing retailer Forever 21 announced that it was filing for Chapter 11 bankruptcy and would be closing two stores in Georgia. These Forever 21 locations were expected to close in Georgia: Stonecrest: 2929 Turner Hill Road N.E #2460, Lithonia; and Savannah Outlets: 200 Tanger Outlets Blvd. Ste. 191, Pooler. Read more.

Related:

• J.Crew, Which Has 4 Stores In GA, Files For Bankruptcy
• Macy's To Close 125 Locations; Georgia Stores Among Threatened
• Georgia Chain Stores That Closed Their Doors In 2019