After closing a handful of underperforming stores in May and announcing plans to shutter a supply-chain warehouse that will result in 300 layoffs, JCPenney is selling more than 100 stores in a nearly $1 billion deal.
Onyx Partners, Ltd., a Boston private equity firm, is buying 119 JCPenney locations in an all-cash deal worth $947 million, USA TODAY reports. The company has about 650 stores across the country.
Are any stores in Ohio affected by this deal? Here’s what we know.
JCPenney stores sale: Will they remain open?
All 119 stores are currently open for business, USA TODAY reports. It’s not known if they will close once the sale closes on Sept. 8. Onyx Partners did not reply to USA TODAY’s request for comment.
The purchase was announced by Copper Property CTL Pass Through Trust, formed by JCPenney’s lenders as part of the retailer’s reorganization after its 2020 bankruptcy filing. The trust took control of about 160 JCPenney locations and six distribution centers following the bankruptcy.
Which JCPenney stores in Ohio and Kentucky are involved in the sale?
Five Ohio stores and two in Kentucky are part of the sale. They are:
Ohio
Kentucky
Full list, map of JCPenney stores being sold
JCPenney sold stores in 35 states, including 21 in Texas and 19 in California. Here’s the complete list and a map.
How many JCPenney stores are in Ohio?
JCPenney has 25 stores in Ohio, according to its website. They are:
JCPenney closes stores in 8 states
JCPenney closed seven stores in seven states in May, per USA TODAY, while another store in an eighth state has been spared until August.
JCPenney filed for bankruptcy in 2020
In May 2020, JCPenney filed for Chapter 11 bankruptcy protection, per Axios, and closed around 200 locations. The company emerged from bankruptcy after it was acquired by Simon Property Group and Brookfield Asset Management Inc.
JCPenney joins Joann Fabrics, Big Lots, Kohl’s in closing stores
JCPenney joins several other national retailers in filing for bankruptcy and closing stores in 2025. They include:
This article originally appeared on The Columbus Dispatch: JCPenney sells 119 stores in $1 billion deal. See Ohio and Kentucky locations, full list, map
Reporting by Chad Murphy, Columbus Dispatch / The Columbus Dispatch
USA TODAY Network via Reuters Connect
