The JCPenney store at Kokomo Mall is closing, as part of the company’s plan to shutter 240 location around the country.
The Kokomo store, located at 1718 E. Boulevard, will be part of the company’s first phase of closures, in which 154 locations will permanently shutter. The move comes after the company filled for Chapter 11 bankruptcy last month in Texas.
Going-out-of-business sales and deals are expected to begin at the Kokomo location on June 12, and last 10 to 16 weeks.
“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 to allow us to continue serving our loyal customers for decades to come,” said Jill Soltau, chief executive officer of JCPenney, in a release.
She said all employees affected by the closures “will be treated with the utmost consideration and respect.”
JCPenny was one of the original anchor tenants at Kokomo Mall, which opened in 1963.