J.C. Penney Bankruptcy Could Affect Abingdon Store: Report

ABINGDON, MD — The iconic retailer J.C. Penney Co. is preparing to file for bankruptcy, as the new coronavirus continues to take a toll on brick-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 the Abingdon store will be included.

Harford County's J.C. Penney store is at 3411 Merchant Boulevard in The Boulevard at Box Hill shopping center.

It is one of 15 J.C. Penney shops in Maryland, which have been temporarily closed since March due to the shuttering of businesses deemed nonessential to prevent the spread of the new coronavirus.

The Abingdon store opened in October 2012 as the shopping center off MD 924 was being developed.

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 brick-and-mortar stores, Reuters said.

In 2019 J.C. Penney closed 30 locations, including its Gaithersburg store.

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.

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

People can still shop J.C. Penney online.

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

— By Beth Dalbey and Elizabeth Janney

See Also:

• J.Crew, Which Has 4 Stores In MD, Files For Bankruptcy
• Sears Closes Store In Harford Mall
• JC Penney Closes One Maryland Store, 29 Other Locations