- JCPenney is beginning liquidation sales at 136 stores.
- There will be storewide discounts of 25-40%, and shoppers can still return items purchased before June 12.
- Here’s what else shoppers can expect at store closing sales.
- Visit Business Insider’s homepage for more stories.
Liquidation sales are officially under way Wednesday at the 136 JCPenney stores that are slated to close for good.
There will be storewide discounts of 25 to 40%, according to a press release issued by Gordon Brothers, Hilco Merchant Resources, Great American Group, and Tiger Group, which are managing the store closing sales.
There will be deeper discounts of 40% on fine jewellery and window treatments, while more seasonal items like sunglasses will be discounted by 25 to 30%.
“Due to the name recognition and goodwill of this brand, we encourage consumers to shop early to take advantage of the best selection of products as we expect merchandise to sell very quickly,” the group of firms said in a statement. “JCPenney store associates remain committed to providing customers with an engaging shopping experience, while offering even better deals on the most popular merchandise.”
Shoppers can still return items purchased before June 12 while stores are in the process of closing. Starting on June 25, all sales will be final. Gift cards will still be honoured at select locations, but shoppers cannot purchase new gift cards at closing stores.
The department store, which filed for Chapter 11 bankruptcy on May 15, said in a document filed with the Securities and Exchange Commission later that month that it expected to eventually close about 30% of its 846 stores, moving away from weaker malls.
The list of closing JCPenney stores can be found here. The company initially announced that it would be closing 154 stores in the initial phase of closures, but it later removed some locations from the list, saying that “a handful of previously announced store closing locations remain on hold pending further review.”
During the initial phase, 136 stores are now slated to close.
The Sephora locations inside closing JCPenney stores will also be liquidating. Most store salons will remain open until mid-August.
JCPenney is still in the process of reopening some stores after it was forced to temporarily close its entire fleet in response to the coronavirus pandemic.
All stores are operating at reduced hours. Stores will be open from noon to 7 p.m. on Monday through Saturday, and from 11 a.m. to 6 p.m. on Sunday.
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