Four JCPenney stores in Arkansas will be closing.
The Plano, Texas-based company announced the first 154 store it is planning to close. As part of its Chapter 11 bankruptcy, it is reportedly planning to close 240 stores.
“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 J.C. Penney CEO Jill Soltau said in a statement.
The stores are located in Batesville, Conway, El Dorado and Harrison.