Bankrupt retailer J.C. Penney, once a mall-corner institution, announced Thursday that it will be closing 154 stores this summer.
Store-closing sales will begin June 12th. The company said that store-closing sales could last anywhere from 10 weeks to four months. J.C. Penney will also announce more store closures in the next few weeks.
The retailer, already struggling, said in a statement that it hopes to "emerge from bankruptcy and the pandemic a stronger retailer." Prior to bankruptcy, J.C. Penney had around 860 stores but have only reopened 500 of them since lock down restrictions have eased.
Click here for the full list of store closures