“While we do not have plans to significantly reduce our store count, we expect a handful of JCPenney stores to close by mid-year,” a company spokesperson told FOX Business.
Eight JCPenney locations across eight states are slated for closure, according to SB360 Capital Partners, the firm managing the liquidation sales.
JCPenney has clarified that these closures are unrelated to its recent merger with SPARC Group, the parent company of brands like Aéropostale, Brooks Brothers,
and Eddie Bauer. The merger, finalized in January, formed a new retail organization, Catalyst Brands, which aims to streamline operations across six major retail banners.
