Good Lifestyle

The department stores have already had difficulty dealing with the rise of online purchases, but the pandemic has put the final nail in the coffin for many major retailers. This week, one of the oldest and older shops inCrack under the pressure of the pandemicJCPENENY, JCPENENY, announced that it will close a total of 165 stores by the 2021. The news arrived shortly after the company had emerged from bankruptcy under the previous new property this month. Read on for more news about JCPenney stores close closing and for another potential closing to be concerned.This legendary chain is on the point of bankruptcy.

However, more than 150 JCPenney sites were already on the absence, the new owners Simon Property Group and Brookfield Asset Management, Inc. announced that they will do itClose 15 additional stores In just over three months, leadership has confirmed in a statement toUnited States today this week.

"As part of our store's optimization strategy that started in June with our financial restructuring, we decided to close 15 additional stores," JCPenney said in his statement. "These stores will start sales of liquidation later this month andgoes close to the public In mid-March. "JCPENENY, who has existed since 1902, operated 840 brick and mortar locations before filing a bankruptcy in May this year.

According toStrong, a lot ofJCPENENY's problems Can be drawn from the current pandemic, but back to 2012, when the company came under the direction of the CEORon Johnson. Johnson has considerably restructured the company, including its inventory, marketing and pricing strategy, alienating a large part of its primary base and results in a 24% reduction in sales that year. This year,JCPENENY stocks fell below a dollar By action, which may be eliminated by the New York Stock Exchange.

Yet new leaders are optimistic as better days are in advance. "Although shop closing decisions are never easy, our store optimization strategy is designed to better position JCpenney to conduct sustainable and cost-effective growth," said representatives.

Read it for more stores like JCpenney who close their doors during the pandemic and for the closures of another major store, checkThis beloved brand closes all but 2 of its American stores.

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Popularry Forveyor of Kids' Clothing, the Children's Place usually does its best sales of the year just before the start of the school year - but 2020 had something else in store. With clogged schools, the company saw a 23% reduction in net sales for October 20, 2020, compared to the same month in 2019. They recently announced its intention toClose a total of 200 stores by the end of the year. And for more surprising pandemic closures, checkThis beloved pet closes all American pitches.

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