The Batesville location for JCPenney is permanently closing.
In a media release from its Plano, Tex. on Thursday, J. C. Penney Company, Inc. (OTCMKTS: JCPNQ) announced that it has taken the first step in implementing its store optimization strategy. And that strategy involves the closing of 154 Penney locations across the country. (A full list of the stores closing is available by clicking here.)
In addition to the St. Louis Street Batesville location, stores in Conway, El Dorado, and Harrison are also on the closing list.
In the release, the company said that following a comprehensive evaluation of its retail footprint and a careful analysis of store performance and future strategic fit, JCPenney identified the first phase of 154 store closures. Following entry of an order at the June 11, 2020, hearing with the U.S. Bankruptcy Court for the Southern District of Texas, in Corpus Christi, Tex., store closing sales will begin at 154 locations on June 12, the release said.
The company expects additional phases of store closing sales will begin in the coming weeks, the release noted. “As the company remains focused on its plan for renewal and driving sustainable, profitable growth, it intends to reduce its store footprint and focus resources on its strongest stores and powerful eCommerce flagship store, jcp.com. Store closing sales for the first round of store closures are expected to take 10-16 weeks to complete.”
“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 of JCPenney. “I am incredibly grateful to our talented associates for their ongoing dedication and their passion for meeting and exceeding our customers’ expectations during this difficult and uncertain time. All impacted associates will be treated with the utmost consideration and respect.”
The Batesville location had already previously closed due to the coronavirus pandemic.
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