The JC Penney at Mesa Mall in Grand Junction is not among the 154 stores the national apparel and home retailer plans to close in the first phase of a reorganization.
The JC Penney at the River Landing Shopping Center in Montrose is on the list of store closures, however. So are locations in the Durango Mall and Greeley Mall as well as in Fort Collins. The company expects the first round of store closures to take 10 to 16 weeks to complete. Additional phases of store closures are planned under a Chapter 11 bankruptcy reorganization.
“While closing stores is always an extremely difficult decision, our store optimization strategy is vital to ensuring we emerge from both Chapter 11 and the COVID-19 pandemic as a stronger retailer with greater financial flexibility to allow us to continue serving our loyal customers for decades to come,” said Jill Soltau, chief executive officer.
As of June 4, JC Penney had reopened nearly 500 stores as pandemic restrictions eased and expects to open more, Soltau said. “We are excited to welcome back our customers and associates at these locations, and we will continue to take actions to be best positioned to build on our over 100-year history.”
According to a news release, stores were selected for closures based on the results of an evaluation that included store performance and future fit for operations. The company plans to focus resources on its strongest stores as well as online sales.
JC Penney was among the national retailers to file for bankruptcy during the pandemic.
Pier 1 Imports also filed for bankruptcy and announced the company had received court approval to close all of the more than 500 stores it operates in the United States — including the location in Grand Junction.