💨 Abstract

JCPenney is closing seven mall locations across the U.S. by May 25. The chain filed for bankruptcy in May 2020 and plans to close over 200 stores. Despite being acquired by Simon Property Group and Brookfield Asset Management in December 2020, closures continue due to lease expirations, market changes, and other factors. An additional store in Annapolis, Maryland is set to close in mid-2025.

Courtesy: metro.co.uk

Summarized by Einstein Beta 🤖