Find in the news:
BY COUNTRY

Another victim of the pandemic, J.C. Penney, is declaring bankruptcy



The American chain of J.C. Penney department stores specializing in selling clothes and accessories began bankruptcy proceedings.
J.C. Penney Wikimedia

A notice to that effect has been filed with the Bankruptcy Court for the Southern District of Texas. It was stated that an agreement had been reached with most creditors regarding the restructuring, but the company had to close most stores and fire many employees. The company also managed to raise new funds in the amount of $450 million, which will be used for restructuring. 

J.C. Penney is one of the oldest U.S. trading companies, founded back in 1902. Its best years were in the first half of the 20th century, but then, when shopping centers began to close across the country, consumer interest in classic department stores began to decline. As a result, by the end of the 20th century, a chain of almost 850 retail outlets had its first financial difficulties. We can say that the road to bankruptcy for J.C. Penney began a few decades ago.

The real problems for the company began when it was run by former CEO Ron Johnson, who took office in 2011. Johnson's previous management of the Apple store chain didn't help much. He complicated an already difficult task of managing a chain of stores by deciding to completely rethink that approach. Revised pricing schemes and an attempt to change the image of the stores eventually resulted in a sharp drop in sales and a huge loss of revenue. From these "improvements," the company has not recovered anymore, and in all subsequent years, it has only constantly accumulated new problems and debts.

The coronavirus pandemic only accelerated the inevitable. At a time when even healthy and powerful companies are experiencing significant problems, J.C. Penney had no chance of surviving.

And while J.C. Penney CEO Jill Soltau claims that the new strategy has led to significant results in the company's recovery, experts are skeptical. Allegations were made that the network's bankruptcy was expected, and all efforts to restore it simply delayed the inevitable but did not bring worthwhile results. However, some analysts doubt the future of the company, despite all the plans and funds received for the restructuring.

More about shopping malls in the USA



YESTERDAY, USA:
It plans to open about 40 such mini-stores in an area of about 50 square feet, which will sell the brand's goods.
YESTERDAY, USA:
The last of the closed Apple Stores in the U.S. was reopened the other day - it is located in Texas.
DAY BEFORE YESTERDAY, USA:
Filling your cart with items and leaving the site without making a purchase has become the post-pandemic equivalent of window gazing for young shoppers.
Feb 26, 2021, USA:
It will be the most significant expansion in Sephora's history, demonstrating its confidence in the retailer's future.
Feb 26, 2021, USA:
Shortly, 17 Apple mini-stores will open in hypermarkets across the country. The company intends to start opening such outlets in the fall.
Feb 25, 2021, India:
The vast mall's construction will cost $760 million, and the project is expected to be completed in seven years.
Friend
and Follow
Aviapark GLA:2 475 699 SF
ADDRESS: ul. Aviakonstruktora Mikoyana, 10
Russia . Moscow region
Aviapark
AEON MALL Okinawa Rycom GLA:839 585 SF
ADDRESS: 901-2300 Tochi-kukaku seirichinai Awase, Kitanakagusuku Village, Nakagami District, Okinawa
Japan . Ginowan
AEON MALL Okinawa Rycom
Charlotte Premium Outlets GLA:400 000 SF
ADDRESS: 5404 New Fashion Way Suite 100, Charlotte, NC 28278
USA . Charlotte
Charlotte Premium Outlets
Hillcrest Mall GLA:585 758 SF
ADDRESS: 9350 Yonge St, Richmond Hill, ON L4C 5G2
Canada . Richmond
Hillcrest Mall


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us