Find in the news:
BY COUNTRY

Legendary department store chain closes stores in masses



Many large retailers have long been losing a competition to online retailers. The coronavirus pandemic put an end to this issue.
Sale

One of America's oldest and largest department store chains, JCPenney, said it would close a total of 165 outlets by March 2021. The company, which recently emerged from bankruptcy proceedings, is now taking all necessary steps to optimize its business and financial restructuring - a process that began back in June.

Initially, the chain announced its intention to close 150 stores, but later it added to the list 15 more. According to the chain's statement, the stores would be closed at the end of this month and will begin liquidation sales and be closed to the public in mid-end of March 2021. Overall, the chain's management is optimistic and believes that JCPenney will improve and return to profitability shortly.

JCPenney traces its history back to 1902. What started as one small dry goods store eventually grew into a vast chain of 840 department stores. But the problems began long before the coronavirus pandemic. In 2012, Ron Johnson, then JCPenney's CEO, undertook a dramatic restructuring. In theory, a good start brought the company only severe problems and a 24% drop in sales because it did not consider many realities of today's market.

By early 2020, JCPenney's stock price had fallen below $1, risking delisting from the New York Stock Exchange. Then, when stores across the country began closing en masse for quarantine, the company was forced to start bankruptcy protection proceedings and changed owners. Today it is owned by Simon Property Group and Brookfield Asset Management, Inc. in the real estate industry.

More about shopping malls in the USA



YESTERDAY:
The spaces, designed in Hermès colors, will appear in Paris, Tokyo, New York and other cities around the world.
DAY BEFORE YESTERDAY, USA:
The iconic store will close after 14 years of operation.
DAY BEFORE YESTERDAY, Italy:
The automaker plans to open stores in the new concept in the world's major metropolitan cities.
Oct 1, 2022, Spain:
The new store on Paseo de Gracia reflects the brand's British style
Sep 29, 2022, Russia:
The third quarter was strongly influenced by the decision to cease sales in Russia and the subsequent closure of the business.
Sep 28, 2022, United Kingdom:
IKEA cooperates with British grocery giant Tesco, launching a new service.
Friend
and Follow
Vegas Crocus City GLA:1 199 078 SF
ADDRESS: 61 km Moscow Ring Road
Russia . Moscow region
Vegas Crocus City
Jardim Pamplona GLA:118 403 SF
ADDRESS: R. Pamplona, 1704 - Jardins São Paulo
Brazil . Sao Paulo
Jardim Pamplona
Arkadia GLA:1 184 030 SF
ADDRESS: Aleja Jana Pawla II 82, 00-175
Poland . Warsaw
Arkadia
Queens Place GLA:440 000 SF
ADDRESS: 88-01 Queens Boulevard Elmhurst, NY 11373
USA . New York
Queens Place


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