VICTORVILLE – J.C. The Penney store inside the Mall of Victor Valley avoided the closing bullet as the financially struggling company released a list of 154 stores they plan to permanently shutter.
While the Victorville location was spared, two others are closing in San Bernardino County, including one in the Inland Center mall in San Bernardino and another inside the Rancho Del Chino mall in Chino.
Bankruptcy Judge David Jones is expected to hold a hearing on June 11 to consider the bankruptcy motion. If he signs off, business sales could begin immediately and could last 10 to 16 weeks, according to a USA Today report.
The bankruptcy announcement comes as the department store chain tries to stabilize its finances under Chapter 1
The Texas-based company reported losing money for eight of the last nine years, totaling $ 4.45 billion, according to FactSet.
J.C. Penney, the largest company to date to file for bankruptcy protection so far during the coronavirus pandemic, said in May it would permanently shut down 242 stores, leaving about 600 open.
The Bankruptcy Court filing has also listed stores earmarked for closure in California’s cities of Los Banos, Pacheco, Delano, Yreka, Tracy, Turlock and Paso Robles.
“While it is always an extremely difficult decision to close stores, our store optimization strategy is important to ensure that we emerge from both Chapter 11 and the COVID-19 pandemic as a stronger retailer with greater financial flexibility, so we can continue to serve our loyal customers for decades. to come, ”CEO Jill Soltau said in a statement.
The announcement comes as the company is gradually opening stores that are temporarily closed due to the coronavirus pandemic. The company said nearly 500 had reopened as of Thursday.
J.C. The Penney store inside the Mall of Victor Valley was first located in the building now occupied by Dick’s Sporting Goods, which moved in after JC Penney moved to a larger space in the mall, occupied first by Mervyn’s and later Forever 21 .
The expanded J.C. The Penney store opened in 2012 and contained 100,000 square feet of retail space with brands such as Sephora, Liz Claiborne, I Heart Ronson, MNG by Mango, Bisou Bisou and Levi’s, the Daily Press reported.
In the future, if the company decides to push for its location in Victorville, it would be yet another major loss of business in store.
After nearly 30 years in business, the Sears store closed inside the mall earlier this year, after the company announced in 2019 that it would shutter 96 more stores across the country, the Daily Press reported.
Rene Ray De La Cruz can be reached at 760-951-6227, or by email at RDeLaCruz@VVDailyPress.com. Follow him on Twitter @DP_ReneDeLaCruz.