In the KQEN Business Spotlight:
The Roseburg JCPenney’s store is on the list of locations the struggling retailer will close if restructuring plans are approved in U.S. Bankruptcy Court next week.
Information on the JCPenney’s website said restructuring is part of an ongoing transformation. It said, “we will reduce our store footprint to better align our business with the current operating environment and drive sustainable, profitable growth, as we focus resources on our strongest stores and powerful eCommerce flagship store, www.jcp.com”.
154 stores are slated to close, according to the website, with additional closures set to be announced in the coming weeks. Other JCPenney’s stores in Oregon on the initial list include locations in Salem, McMinnville and Bend.
The company said it had been making significant progress in rebuilding until the COVID-19 pandemic created a “profoundly different new reality” requiring it to make difficult decisions so it could keep going. JCPenney’s filed for Chapter 11 bankruptcy protection on May 15th.
JC Penney’s said it will remain the nation’s largest apparel and home retailer after the group of stores are closed, with over 500 stores having reopened as COVID-19 restrictions have been eased in some areas. That means around 150 stores have yet to reopen due to those restrictions.
The local store is in the Garden Valley Shopping Center and has been “temporarily closed” since March 18th. It was originally scheduled to reopen on April 2nd.
The company website said store closing sales are expected to begin the week of June 12th.
Its unclear how many people worked in the Roseburg store. A communications staff member told News Radio 1240 KQEN they were not releasing the number of associates at specific locations.