JCPenny Closing 27 Stores in 13 States
Another venerated and long standing retail business is standing on the edge of financial peril today. JCPenny stores will join the ranks of those affected by the retail apocalypse that has claimed so many stores in the last year (Toys R Us, Sears, Payless Shoes, etc). According to Business Insider, the 117 year old retail giant will close "27 stores this year, including 18 full-line department stores and nine home and furniture stores."
So far, no stores are expected to close in Louisiana - but if the trend of retail stores folding under the pressure of online sales, this could just be the beginning. The latest information puts the stores slated to close by July of this year in Arkansas, California, Florida, Georgia, North Carolina, South Carolina, Ohio, Missouri, New Jersey, and New York.
Although the official announcement from JCPenny has not been made that addresses exactly which stores will be affected, Business Insider has compiled a list of the stores that have already announced their closing. See that list and see the latest on this breaking story here.