JCPenney is closing more stores


SAN BRUNO, CALIFORNIA – MAY 15: A view of a temporarily closed JCPenney store at The Shops at Tanforan Mall on May 15, 2020 in San Bruno, California. JCPenney avoided bankruptcy after the company paid down paid $17 million in debt on Friday after missing two previous payments.JCPenney has an estimate $3.6 billion in debt. (Photo by Justin Sullivan/Getty Images)

PLANO, Texas — JCPenney is inching toward its target of closing 250 stores.

The department store chain announced Tuesday it is preparing to close another 13 stores for good.

Seven of those stores are in Michigan. The remaining stores are in New York, Washington state, Maryland and California. Liquidation sales at those stores will start on July 3.

JCPenney filed for bankruptcy last month.

According to the JCPenney company blog, six stores in Texas are closing.

The company previously said it expects 200 store closures by the end of this summer, with the remaining 50 closing by next summer. More than 130 stores have already started liquidation sales.

The sales are vital for bankrupt retailers to raise cash during a court-supervised reorganization, but it’s not clear just how successful the sales will be.

Many shoppers are still reluctant to venture out amid the coronavirus pandemic, and others are cutting back on purchases due to job losses.

CNN Newsource contributed to this article.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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