J.C. Penney Files for Bankruptcy Closing Over 240 Stores
The coronavirus has sent this retail giant into bankruptcy.
The big question is, will the Danbury Fair Mall J.C. Penney store go out of business? Good news, The Danbury store has not been targeted for the first round of closures. The only Connecticut store that will be closing is the Torrington location, which will turn off the lights within 10 to 16 weeks, according to the Danbury Patch.
J.C. Penney has been around for 118 years but has been slowly sinking into the retail abyss as more and more people continue to shop online. But, according to usatoday.com, they are currently restructuring their finances under Chapter 11 bankruptcy protection.
They have announced they will be closing 242 stores for good, but have not announced which other stores have been earmarked for liquidation. There is good news for shoppers in the Danbury area. The Danbury Fair location has now reopened with limited hours. Click on www.jcpenney.com for details.
According to nbcnews.com, J.C. Penney operates 850 stores throughout the United States and Puerto Rico. There are 7 locations in Connecticut. Ironically J.C. Penney was one of the first retail stores to begin selling online. Do you remember their giant catalogs that were popular back in the 1990s?
I remember J.C. Penney as one of my go-to shopping locations at the Danbury Fair. You could buy a suit for as low as $150 and the selection of clothing was massive. I have a feeling that you may begin to see some incredible sales at all J.C. Penney locations. For a listing of all Connecticut locations, click on www.jcpenney.com.
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