JCPenney, y’know, the store we used to hit up at the mall back in the day? Well, turns out they’re closing down even more locations as they try to get back on track. On May 25th, they’re shutting down seven stores across the good ol’ USA, part of their big plan to fix things after years of money troubles. Despite going through bankruptcy and merging with another company, they still haven’t made a profit since 2010. The closures are just another sign that they’ve got a long road ahead of them.
Store Shutdowns: Where They’re Saying Bye-Bye
So, let’s get into the nitty-gritty of which stores are getting the boot. We’re talking about Fox Run Mall in New Hampshire, Asheville Mall in North Carolina, The Shops At Northfield in Colorado, West Ridge Mall in Kansas, Pine Ridge Mall in Idaho, Charleston Town Center in West Virginia, and The Shops at Tanforan in California. JCPenney spilled the beans on these closures on May 19th, almost three months after they first talked about it in February.
Trouble in Paradise: Bankruptcy and New Owners
These closures are coming hot on the heels of JCPenney filing for bankruptcy in May 2020. Back then, they were running a whopping 846 stores. But after the dust settled, they had to say goodbye to 242 of them—192 in the first year and another 50 the year after. That same year, JCPenney got picked up by Simon Property Group and Brookfield Asset Management Inc. in a $1.75 billion deal, all in the hopes of saving the sinking ship. Unfortunately, as CNN reported, they haven’t seen a profitable year since 2010. Ouch.
New Kid on the Block: Catalyst Brands to the Rescue?
In a bold move, JCPenney merged with a bunch of SPARC Group’s brands in January 2025 to create Catalyst Brands. This new retail giant includes Aeropostale, Eddie Bauer, Lucky Brand, Nautica, and Brooks Brothers, giving them a total of 1,800 store locations, 60,000 employees, and $9 billion in revenue. But hold up, they’re not sure what to do with Forever 21 yet. It’s like they’re taking a break to figure things out, you know?
What’s Next for JCPenney, Anyway?
The guy who used to run JCPenney, Marc Rosen, is now in charge of Catalyst Brands. He’s feeling pretty good about the future and has big plans for the group. “Catalyst Brands is all about bringing together the best of the best to create something amazing. We’re all about quality, style, and giving our customers what they want,” he said. The new headquarters for Catalyst Brands will be at JCPenney’s offices in Plano, Texas. So, who knows? Maybe this new direction will turn things around for them. Or maybe it’s just wishful thinking. Time will tell.
