J.C. Penney on Thursday announced plans to permanently close 154 locations, including stores in Carroll and Marshalltown, as it tries to stabilize its finances under Chapter 11 bankruptcy.
The department store chain previously said it would close 242 locations, leaving about 600 open. The company had not revealed which locations were poised for liquidation.
The J.C. Penney stores in Ames, Cedar Rapids, Coralville, Council Bluffs, Davenport, Dubuque, Sioux City, Spencer and West Des Moines will remain open for now.
J.C. Penney completed a $3.5 million extensive interior and exterior remodeling project at the 147,670-square-foot store at Westdale Town Center in early 2016. Sephora, an internationally known beauty and skin care products chain, opened a location inside the Westdale J.C. Penney store in 2015.
J.C. Penney said store closing sales will begin at the 154 locations after an order is entered at a June 11 bankruptcy hearing in Corpus Christi, Texas.
The company expects closing sales for the first round of store closures to take 10 to 16 weeks to complete.
The retailer has not indicated when it will release additional store closings.
“While closing stores is always an extremely difficult decision, our store optimization strategy is vital to ensuring we emerge from both Chapter 11 and the COVID-19 pandemic as a stronger retailer with greater financial flexibility,” CEO Jill Soltau said in a news release.