JCPenney is one of America's most popular departments stores. The store chain was founded in April 1902 in Kemmerer Wyoming. JCPenney sells clothing, electronics,furniture, and even jewelry. As of April 2020, there are approximately 840 locations across the United States. Due to the COVID-19 pandemic, JCPenney had to temporarily close all there stores. Most of them reopened up on June 17, while over 100 of the stores had to stay closed. JCPenney filed for Chapter 11 bankruptcy protection in May 2020, causing 242 stores to be closed in the future. In September 2020, Brookfield Property Partners and Simon Property Group purchased JCPenney for $800 million. Because of the purchase, JCPenney will be getting a new headquarters. There will be only 598 locations of JCPenney by 2022. Stores chains can't even go a month being closed without losing income.
No comments:
Post a Comment