Three local JCPenney locations closing as part of restructuring plan

Three local JCPenney locations closing as part of restructuring plan
(Source: CNN)

MYRTLE BEACH, S.C. (WMBF) – Three local JCPenney stores will be shutting their doors.

On Thursday, the company identified 154 stores that will be closing as part of the first phase of the store optimization strategy.

The stores at the Myrtle Beach Mall in Myrtle Beach, the Magnolia Mall in Florence and Biggs Park Shopping Center in Lumberton are part of the first phase of closures for the company.

LIST | JCPenney store closures

Store closing sales for the first round of store closures are expected to take 10-16 weeks to complete.

JCPenney announced in March that it was filing for bankruptcy after years of declining sales combined with the coronavirus pandemic.

“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.

JCPenney expects to announce more store closures in the coming weeks.

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