SHOPPERS are flocking to JCPenney for last-chance deals as one of its stores will be shutting down for good.
JC Penney’s Annapolis location, in Maryland, has begun its liquidation sale with discounts up to 20 per cent off.
A closing sign at the Annapolis location[/caption]
Liquidation sales are now underway with discounts between 20% and 50% off[/caption]
Shopper Lori Ashby shared her reaction on Facebook, posting photos of the store’s windows adorned with “Store Closing” posters.
One sign read, “Entire store 20% – 50% off original price,” while another clarified, “This location only.”
In her post, Ashby wrote: “Annapolis J.C. Penney closing sale. The building was sold so I knew this was coming, but still not prepared for seeing this today.”
It is not known who was the building sold to.
But responding to a question on Facebook about the store’s future, Ashby mentioned that Hobby Lobby, Grocery Outlet, and a gym are slated to take over the space.
JC Penney, founded in 1902, has been a cornerstone of American retail for over a century, known for its wide selection of clothing, home goods, and affordable products.
At its peak, the company had over 1,600 stores across the United States.
Today, JC Penney operates approximately 670 locations nationwide, including four stores in Maryland.
However, the retailer has faced significant challenges in recent years, including a 2020 bankruptcy filing that resulted in store closures and restructuring efforts.
It comes after JC Penney announced the closure of yet another location as tragedy struck the store earlier last year.
The closure comes several years after the department store chain shuttered around 100 stores nationwide around the time it filed for bankruptcy.
The JCPenney store located in a shopping center in Eden Prairie, Minnesota – around 20 minutes outside of Minneapolis – had been temporarily closed since April.
On April 17, a transformer fire occurred in the store, according to local blog Bring Me The News.
As the fire was extinguished, unfortunate water damage was left behind.
But four months later, officials with the shopping center have confirmed the store will not reopen.
Nancy Litwin, the Vice President and General Manager of Eden Prairie Center, told Bring Me The News that JCPenney made the decision to permanently shutter the store’s doors.
“JCPenney has been a part of our center for many years but decided to permanently close this store,” Litwin said.
“We view this as an opportunity to enhance Eden Prairie Center’s offerings and better meet our customers’ needs.”
Why are JCPenney stores closing?
In the 2000s, JCPenney began experiencing stagnant or declining sales.
Other major retailers, especially discount stores like Target and Walmart, continued to expand and entice customers.
Meanwhile, online shopping began growing at a rapid rate, leading to the decline of malls and brick-and-mortar retailers nationwide.
Covid-19 proved to be the “final nail,” with “virtually all of its stores closed amid a nationwide lockdown,” as reported by Britannica Money.
Most of JCPenney’s store closures began after the company filed for Chapter 11 bankruptcy protection in May 2020.
That same month, JCPenney “began a store optimization strategy to better position the Company for sustainable, profitable growth.”
This ultimately led to 175 store locations closing nationwide, starting in 2020 and through 2021.
Even after being bought out of bankruptcy at the end of 2020, JCPenney continued to face declining foot traffic and sales, at retail stores and online.
