J.C. Penney to keep Bay Shore outpost open for now

Closure at Westfield South Shore would have affected 136 employees

TRD TRI-STATE /
Sep.September 24, 2020 01:45 PM
J.C. Penney at the Westfield South Shore mall in Long Island and  J.C. Penney CEO Jill Soltau (Google Maps; Getty)

J.C. Penney at the Westfield South Shore mall in Long Island and  J.C. Penney CEO Jill Soltau (Google Maps; Getty)

J.C. Penney announced Thursday that the department store chain will not shutter its store at the Westfield South Shore mall in Bay Shore, Long Island.

That would have been part of a larger wave of closures for the distressed retailer: In May, J.C. Penney announced it would close 136 of its stores, and in June, it added 13 more stores to that list, including the Bay Shore location.

But last month, a company spokesperson told Newsday that the retailer would alter its plans in order to possibly rescue the Bay Shore outpost, among other locations. Thursday’s announcement makes it official.

The closing of the store would have affected 136 employees, according to a notice filed with the New York State Labor Department.

J.C. Penney filed for Chapter 11 bankruptcy protection in May, citing the pandemic as the main reason. Mall operators Simon Property Group and Brookfield Property Partners — who are landlords of many Penney stores — are in the process of acquiring the retailer to avoid liquidation. Authentic Brands has also joined the deal to take over the chain, which is valued at $1.75 billion.






Related Articles

arrow_forward_ios
WeWork CEO Sandeep Mathrani (Wikimedia)

WeWork tells members you must pay rent

WeWork tells members you must pay rent
Equity Residential chairman Sam Zell (Getty)

Equity Residential sees profits drop 58%

Equity Residential sees profits drop 58%
City’s new Open Storefronts program will allow shop owners to sell their wares on sidewalks (Getty)

NYC to allow store owners to sell wares on sidewalks

NYC to allow store owners to sell wares on sidewalks
Blackstone president Jonathan Gray (Getty; iStock)

Blackstone earnings are up despite commercial real estate woes

Blackstone earnings are up despite commercial real estate woes
New York Community Bank president Joseph Ficalora (Facebook; iStock)

NYC’s largest multifamily lender says rent collections are at pre-pandemic levels

NYC’s largest multifamily lender says rent collections are at pre-pandemic levels
Related chairman Stephen Ross (Getty; iStock; Health Pass) 

Related, Cushman & Wakefield use new app to screen workers for Covid

Related, Cushman & Wakefield use new app to screen workers for Covid
Colliers’ Jay Hennick (iStock; Colliers)

Colliers’ profit rebounds

Colliers’ profit rebounds
40 East 72nd Street and Spiros and Antonia Milonas  (Getty; Google Maps)

Under water: Shipping magnate’s troubled UES condo is bankrupt

Under water: Shipping magnate’s troubled UES condo is bankrupt
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...