PHOENIX — In June, JCPenney announced that it would close 150 stores part of its bankruptcy and restructuring plan, including three stores in Arizona.
Now we know when.
Those three stores -- located at the Little Creek Center in Cottonwood, Christown Spectrum Mall in Phoenix, and at the El Con Shopping Center in Tucson -- will close on Sunday, October 18, according to Kristen Bennett, corporate communications manager at JCPenney.
All three stores are currently holding final liquidation sales, she said.
With the closures, there are multiple stores that remain open under temporary hours around the Valley and the state.
The 118-year-old retailer, founded in 1902, filed for Chapter 11 bankruptcy protection in May, citing the economic downfall from the COVID-19 pandemic.
On Sept. 9, JCPenney announced that it had reached an "agreement in principle" with Brookfield Property Group, a real estate company, and Simon Property Group, which owns malls and shopping centers around the country, to buy the retailer for $1.75 billion, a combination of cash and loan debt.
JCPenney also said that it is possible that some of the 150 stores that were previously announced as closing could remain open.