Liquidation sales have begun at J.C. Penney Co. stores around the country as 137 locations plan to shut down in the wake of the company’s bankruptcy filing.
Closing-down discounts range from 25% to 40% off, the department store announced.
“All merchandise is on sale, including deeper discounts of 40% on all fine jewelry and window treatments,” J.C. Penney said in a news release. “New seasonal essentials, such as swimwear and sunglasses, are also discounted at 25-30% off.”
All sales will be final starting on June 25, the company added.
Previously, J.C. Penney announced it would be shutting down 154 stores across 38 states. Now, the list of closing stores has been updated to 136 locations, although the stores removed from the first phase of closures may still shut down at a later date.
“A handful of previously announced store closing locations remain on hold pending further review,” J.C. Penney said in a company blog post.
J.C. Penney filed for Chapter 11 bankruptcy in May. The coronavirus pandemic took an enormous toll on the company, but the department store chain had also already been burdened with debt and struggling for years with falling sales.
J.C. Penney is not closing down altogether. The company said in May it plans to shut down more than 240 stores, or about 30% of its 846 locations nationwide, as part of its bankruptcy restructuring.