HASN’T SAID IF ANCHORAGE STORES AMONG THOSE TO CLOSE
J.C. Penney will file for bankruptcy next week and start closing approximately 200 of it stores.
Recently, Neiman Marcus and J.Crew filed to reorganize under Chapter 11 bankruptcy, which allows businesses to stiff some creditors.
Penney is the remaining anchor store in the Fifth Avenue Mall in Anchorage, after Nordstrom closed last year.
The company did not say if Anchorage’s store would be among the 200 that will be shuttered, but with downtown Anchorage’s economy struggling under various economic perils, it appears likely. Nordstrom last year decided to not renew its lease with the Municipality of Anchorage, which owns that property.
The Anchorage store has been closed temporarily, under state and municipal mandates that shuttered hundreds of businesses in March and April.
Penney, which opened 118 years ago, has about 850 stores and is based in Texas.