J.C. Penney Bankruptcy Could Affect Arizona Stores

Nikki Gaskins
·2 min read

ACROSS ARIZONA—The iconic retailer J.C. Penney Co. is preparing to file for bankruptcy, perhaps as soon as next week, as the new coronavirus continues to take a toll on bricks-and-mortar retailers, Reuters reported. The report said the department store chain will close permanently about 200 of its 850 stores, but it’s unclear if the Arizona stores will be included.

In Arizona, the stores are at:

  • 6525 E Southern Ave, Mesa, AZ 85206

  • 4510 E Cactus Rd, Phoenix, AZ 85032

  • 4481 S White Mountain Rd Ste 5, Show Low, AZ 85901

  • 1900 E Rio Salado Pkwy Ste 140, Tempe, AZ 85281

  • 2180 S Gilbert Rd, Chandler, AZ 85286

  • 1727 W Bethany Home Rd, Phoenix, AZ 85015

  • 1100-B Hwy 260, Cottonwood, AZ 86326

  • 7750 W Arrowhead Towne Center, Glendale, AZ 85308

  • 5050 E Ray Rd, Phoenix, AZ 85044

  • 13333 W Mcdowell Rd, Goodyear, AZ 85395

  • 3200 Gateway Blvd, Prescott, AZ 86303

  • 4600 N US Hwy 89, Flagstaff, AZ 86004

  • 1041 N Promenade Pkwy, Casa Grande, AZ 85194

The 118-year-old chain based in Plano, Texas, was struggling before the business shutdowns associated with the pandemic. The company has about $4 billion in debt and has been edged out of the marketplace by e-commerce companies and discount bricks-and-mortar stores, Reuters said.

As J.C. Penney navigates bankruptcy proceedings, the company is working with creditors for a “debtor-in-possession loan,” the Reuters report said.

J.C. Penney would be the third major retailer to seek bankruptcy protection since the pandemic began. The J.Crew Group filed for bankruptcy earlier this month, and Neiman Marcus said last week it was turning its business over to creditors who provided the company with $675 million in financing to continue operations.

» Read the full J.C. Penney report on Reuters.

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This article originally appeared on the Across Arizona Patch