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JC Penney says he will close 152 additional stores and cut 1,000 jobs as he tries to get out of bankruptcy protection.
The company said last month that it had identified 154 stores to close in the first phase of a restructuring in which it will become a smaller operator.
The retailer said Wednesday that the jobs to be cut will include corporate, field management and international positions.
| Heart | Security | Latest | Change | Change% |
|---|---|---|---|---|
| JCP | n / A | n / A | n / A | n / A |
Penney filed for bankruptcy in May. He had been struggling before the coronavirus pandemic, but like many retailers, the virus outbreak intensified his difficulties. Other retailers who recently filed for bankruptcy include J. Crew, Neiman Marcus, Brooks Brothers, and Sur La Table.
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As part of its bankruptcy reorganization, Penney has said it plans to permanently close nearly a third of its 846 stores in the next two years. That would leave him with just over 600 locations.
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