Boston, MA, June 17, 2020 (GLOBE NEWSWIRE) -- A team of disposition firms consisting of Gordon Brothers, Hilco Merchant Resources, Great American Group (a B. Riley Financial company), and Tiger Group announced that they have commenced store closing sales at 137 J. C. Penney Company, Inc. (OTCMKTS: JCPNQ) stores across the United States. The closures are the Company's first step in implementing a planned store optimization strategy. As the Company remains focused on its Plan for Renewal transformation strategy and driving sustainable, profitable growth, it intends to reduce its store footprint and focus resources on its strongest stores and powerful eCommerce flagship store, jcp.com.
Throughout all closing stores, customers can take advantage of storewide discounts of 25-40% off original prices. All merchandise is on sale, including deeper discounts of 40% on all fine jewelry and window treatments. New seasonal essentials, such as swimwear and sunglasses, are also discounted at 25-30% off. All sales will be final starting June 25.
A spokesperson for the disposition group said, "Due to the name recognition and goodwill of this brand, we encourage consumers to shop early to take advantage of the best selection of products as we expect merchandise to sell very quickly. JCPenney store associates remain committed to providing customers with an engaging shopping experience, while offering even better deals on the most popular merchandise."
Closing Stores
JCPenney continues to monitor CDC guidelines, as well as state and local mandates, to inform its practices, taking extra precautions and going above and beyond those recommendations to ensure the safety of its associates and customers. The list of 137 closing stores, along with the safety precautions the Company is taking, can be found on the JCPenney Blog.
The stores are open Monday through Saturday from noon to 7 p.m. and Sundays from 11 a.m. to 6 p.m. The Company will also offer designated shopping hours for at-risk customers on Wednesdays and Fridays from 11 a.m. to noon. At-risk customers include senior citizens, expectant mothers, and those with underlying health concerns.
Other Stores Continue to Reopen
JCPenney continues to move forward with its strategic reopening plan with nearly all stores now open nationwide. The JCPenney flagship store, jcp.com, remains open to serve customers and now features an enhanced user experience.