JCPenney to shut four New Hampshire stores in nationwide closing plan
Liquidation sales expected to begin June 11 as bankrupt department store chain looks for ‘financial flexibility’
The stores are in Keene, North Conway, Rochester and West Lebanon.
The closings are part of the debt-ridden Texas-based retailer’s bankruptcy plan. It filed for Chapter 11 bankruptcy protection in May.
JCPenney has so far been the largest company to file for bankruptcy protection during the coronavirus pandemic.
In a news release, JCPenney said liquidation sales would start at affected locations after a June 11 hearing in U.S. Bankruptcy Court in Corpus Christi, Texas.
JCPenney CEO Jill Soltau said that, “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,”
She added that “all impacted associates will be treated with the utmost consideration and respect.”