J.C. Penney liquidation sales at 136 closing stores underway with discounts up to 40% off
UPDATED: J.C. Penney updated its closings list again Wednesday and now has 136 locations listed. The story originally noted liquidation sales would start at 137 stores.
Going-out-of-business sales at 136 closing J.C. Penney stores begin Wednesday, the department store chain announced.
The discounts range from 25 to 40% off original prices storewide. All sales will be final starting June 25, according to a news release.
“All merchandise is on sale, including deeper discounts of 40% on all fine jewelry and window treatments,” the release said. “New seasonal essentials, such as swimwear and sunglasses, are also discounted at 25-30% off.”
The retailer, which filed for Chapter 11 bankruptcy protection May 15, also updated its list of stores that will permanently close in its first wave of closures. (See the full list of stores closing below and the stores removed from the list.)
J.C. Penney announced June 4 that 154 stores would close in its first wave of closings but now 136 stores are on the list. However, the removed locations may still close.
“A handful of previously announced store closing locations remain on hold pending further review,” J.C. Penney said in a blog post.
The retailer is expected to close 242 stores for good, or about 29% of its 846 locations with 192 stores expected to close in the current fiscal year, which ends in February, and then 50 in the next fiscal year. After the closings, the company will have around 604 remaining locations.
The Texas-based chain is the largest retailer to file for bankruptcy protection so far during the coronavirus pandemic.
Gordon Brothers, Hilco Merchant Resources, Great American Group, and Tiger Group will manage the store closing sales, according to the release.
The liquidation sales are expected to last 10 to 16 weeks.
J.C. Penney store hours
The stores are currently operating under reduced hours from noon to 7 p.m. Monday through Saturday and 11 a.m. to 6 p.m. Sunday.
On Wednesdays and Fridays, stores have designated an hour, from 11 a.m. to noon, for at-risk shoppers including senior citizens, expectant mothers, and those with underlying health concerns.
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In liquidating J.C. Penney locations, Sephora stores are now closed.
