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Local JCPenney not among bankruptcy closures

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The local JCPenney store in the Roswell Mall on North Main Street is not among the 154 stores designated to close in the first phase of the retailer’s “store optimization plan,” developed after the corporation filed for bankruptcy and reorganization about a month ago.

The corporation did close one New Mexico store, an Alamogordo location in the White Sands Mall, during this first round, and it also stated that future closures are likely to be announced in the coming weeks.

The store in Alamogordo and the other 153 stores identified for the first-phase shutdowns are expected to be closed in 10 to 16 weeks, the company announced.

JCPenney, which sells apparel, accessories and home items online and in physical locations, filed for Chapter 11 bankruptcy protection on May 15. It is one of the largest retailers of its kind in the United States and was founded in 1902. As it entered bankruptcy proceedings, it had about 850 stores in the U.S. and Puerto Rico.

 

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