James Cash Penney (allegedly his real name) probably never envisioned a day when the department store brand he founded in 1902 would have gone from national player to teetering on the edge of disaster.
Of course, he probably would also be a little confused by the internet and the fact that cars have long since replaced horses as the chosen transportation method to visit a JCPenney location.
The chain that carries his name, however, has been through transformations before. Penney himself helped steer JCPenney from a chain located in downtown city centers to one based in malls.
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Had he lived long enough, he might have helped the company navigate the digital age better and avoid its 2020 bankruptcy. James Cash Penney, however, died in 1971, when his chain had not yet suffered the many closures and flirtations with disaster it has endured in recent years.
That’s leading the chain to close more stores, something it has been steadily doing since 2019.
Image source: Justin Sullivan/Getty Images
JCPenney store closures highlights by year (2019-2024)
- 2019: JCPenney closed 18 department stores and nine home/furniture shops, totaling 27 closures.
- 2020: After filing for bankruptcy in May 2020, JCPenney planned to close a total of 242 stores.
- 2022 and 2023: Only two JCPenney locations closed in 2022 with three more shutting down in 2023.
- 2024: In June 2024, JCPenney announced it would close four more locations by September 2024.
Source: JCPenney
JCPenney has been holding its own since its 2020 bankruptcy filing, closing minimal locations each year.
This year, however, it had announced eight stores would close. That number has grown.
“While JCPenney is claiming these closures are more isolated, they do tie in to a troubling trend we’ve seen over the last year of other major retailers shuttering locations in many states,” University of Tennessee Financial Instructor Alex Beene told Newsweek. “It’s the perfect storm of bad economic factors: Foot traffic is down, sales have seen steep declines, and rents for these locations have more than likely seen significant increases.”
JCPenney 2025 store closures (so far)
The impacted locations are:
- Westfield Annapolis Mall, Annapolis, Maryland
- Pine Ridge Mall, Pocatello, Idaho
- West Ridge Mall, Topeka, Kansas
- Fox Run Mall, Newington, New Hampshire
- Asheville Mall, Asheville, North Carolina
- Charleston Town Center, Charleston, West Virginia
- The Shops at Tanforan, San Bruno, California
- The Shops at Northfield, Denver, Colorado
- Beaver Valley Mall, Monaca, Pennsylvania: Scheduled for closure in fall 2025, with liquidation sales already underway
In addition, the chain has quietly begun a going-out-of-business sale at another longstanding California store.
“After more than three decades of serving the local community, the JCPenney store closing at Westminster Mall has left longtime shoppers stunned. The beloved location, which first opened its doors in 1993, will shut down permanently this November, marking the end of an era for many who grew up visiting the mall,” DoYouRemember.com reported.
JCPenney has a new owner
Earlier this year JCPenney and SPARC Group combined to form a new organization, Catalyst Brands, creating a portfolio of six retail brands.
Catalyst Brands brings together SPARC Group’s brands Aéropostale, Brooks Brothers, Eddie Bauer, Lucky Brand, and Nautica with JCPenney and its exclusive private brands, including Stafford, Arizona, and Liz Claiborne.
Catalyst Brands, which has served more than 60 million customers over the past three years, has broad consumer reach through a robust distribution network of owned stores, e-commerce sites, and wholesale partners.
“Catalyst Brands launches with more than $9 billion of revenue, 1,800 store locations, 60,000 employees, and $1 billion of liquidity and is poised to generate significant strategic and operational value. The combined Catalyst Brands organization is a joint venture formed in an all-equity transaction between JCPenney and SPARC Group, with shareholders Simon Property Group, Brookfield Corporation, Authentic Brands Group, and Shein,” according to the company.
Catalyst Brands leadership:
Leadership Structure:
- Marc Rosen, formerly CEO of JCPenney, is now CEO of Catalyst Brands.
- Michelle Wlazlo becomes Brand CEO for JCPenney.
- Natalie Levy remains Brand CEO for Aéropostale, Lucky Brand, and Nautica.
- Ken Ohashi oversees Brooks Brothers and Eddie Bauer.
- Kevin Harper, ex-Walmart executive, is named COO.
Source: JCPenney
Even with new ownership, JCPenney faces brand-related challenges.
“The challenge is that JCPenney is working to undo years of missteps that eroded its relevance. As a result, any course correction will take time to translate into meaningful numbers – especially with competitors like Primark, Old Navy, and Uniqlo making strong advances of their own,” retail expert Neil Saunders wrote on RetailWire.
Saunders’ fellow Brain Trust member Jeff Sward is not as hopeful.
“I’ve been seeing improved product offerings in JCP for a while now. But that’s through the eyes of a retail analyst who is looking for evidence of evolutionary change. The problem is that this new and improved product is hanging on the same dreary fixtures in the same dreary store environment,” he added.
As of July 2025, JCPenney has more than 640 stores in the U.S. and Puerto Rico. At its peak, the chain had over 1,100 locations.
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