JC Penney files for bankruptcy; 242 stores to close

[retailisking]

https://www.retaildive.com/news/jc-penney-files-for-bankruptcy/578088/

[TRU7536]

With over 200 stores set to close, I wonder which locations will close in CT? My picks are in bold.

DANBURY
FARMINGTON
MANCHESTER
TORRINGTON
TRUMBULL
WATERBURY
WATERFORD

[AmesNewington]

With over 200 stores set to close, I wonder which locations will close in CT? My picks are in bold.

DANBURY
FARMINGTON
MANCHESTER
TORRINGTON
TRUMBULL
WATERBURY
WATERFORD

I would HATE to see Farmington and Manchester go. But I see that you also agree that they would most likely stick around.

[Brammy]

I definitely agree that Torrington should be on the chopping block. As for Waterbury, I think if they close it then Brookfield Properties (the new name of GGP) should look into de-malling The Brass Mill Mall and make it a regular shopping  plaza like their co-owned adjacent Brass Mill Commons. JCP would make their second vacant department store anchor, tho the mall would still be anchored by Macy's, Regal Cinemas, and the junk store Shopper's World.

I wonder if Boscov's would be interested in opening in Waterbury if JCP closes. Prior to them opening their first Connecticut store in Meriden in 2015 they had stated interest in the Brass Mill Mall, but at that time there were no vacant anchor spaces. Of course maybe Waterbury might be considered too close to Meriden and Milford.

[retailisking]

There are two critical dates to keep in mind about the JC Penney bankruptcy: July 14 and August 15. If JCP fails to meet certain obligations on those dates the bankruptcy could result in liquidation. The lenders providing DIP financing have ties to the failed leveraged buyouts of Neiman Marcus and Toys R Us.
https://www.dallasnews.com/business/retail/2020/05/20/jc-penney-reopens-153-stores-as-key-dates-and-triggers-threaten-its-bankruptcy-reorganization

[TRU7536]

There are two critical dates to keep in mind about the JC Penney bankruptcy: July 14 and August 15. If JCP fails to meet certain obligations on those dates the bankruptcy could result in liquidation. The lenders providing DIP financing have ties to the failed leveraged buyouts of Neiman Marcus and Toys R Us.
https://www.dallasnews.com/business/retail/2020/05/20/jc-penney-reopens-153-stores-as-key-dates-and-triggers-threaten-its-bankruptcy-reorganization

They're 4.2 billion in debt, there is no way coming back from that. They're just far to gone to ever recover.

[TheFugitive]

This could be the final final FINAL nail in the coffin for Century III Mall.   

[danfifepsu]

With over 200 stores set to close, I wonder which locations will close in CT? My picks are in bold.

DANBURY
FARMINGTON
MANCHESTER
TORRINGTON
TRUMBULL
WATERBURY
WATERFORD

Why Waterford and Waterbury?

[buzz86us]

https://www.retaildive.com/news/jc-penney-files-for-bankruptcy/578088/

lol screw JC Penney, I bought some shirts there with online pickup, and it was a frickin stuffshow, only one checkstand set for online pickup, AND returns. The clerk was slower than molasses, and a dozen other employees were doing jack-all.. in the end I just called to have the order cancelled. I have since avoided any sales from JC Penney because the store is hot garbage. Plus what kind of store charges for online pickup? I can see why this store is in the toilet. Hopefully the one in Albany closes so we can get a Costco

[BillyGr]

https://www.retaildive.com/news/jc-penney-files-for-bankruptcy/578088/

lol screw JC Penney, I bought some shirts there with online pickup, and it was a frickin stuffshow, only one checkstand set for online pickup, AND returns. The clerk was slower than molasses, and a dozen other employees were doing jack-all.. in the end I just called to have the order cancelled. I have since avoided any sales from JC Penney because the store is hot garbage. Plus what kind of store charges for online pickup? I can see why this store is in the toilet. Hopefully the one in Albany closes so we can get a Costco

Costco was planning on going outside the mall on the property, so that doesn't depend on what JC Penney does or doesn't do.  I don't know that Costco would want the mall spot even if it was available - not sure that one floor would be large enough or would they want to deal with a multi-level store?

[mixedday]

 I'd assume if it were to take a department store in a mall site, it or the mall owner would demolish the department store building. But, one of Costco's typical requirements is  to have a gas station near the store. It might be weird, but mall owners at this point  might be desperate enough to allot some of the mall area for a gas station.

[Bdubs]

With over 200 stores set to close, I wonder which locations will close in CT? My picks are in bold.

DANBURY
FARMINGTON
MANCHESTER
TORRINGTON
TRUMBULL
WATERBURY
WATERFORD

Why Waterford and Waterbury?

I could see Waterford being in the chopping block. The mall is shedding tenants like crazy. Last big loss there was Sears, and I see no signs of any improvements there. I guess they’re going to have to put a Spirit Halloween at both ends this year, lol.

[danfifepsu]

With over 200 stores set to close, I wonder which locations will close in CT? My picks are in bold.

DANBURY
FARMINGTON
MANCHESTER
TORRINGTON
TRUMBULL
WATERBURY
WATERFORD

Why Waterford and Waterbury?

I could see Waterford being in the chopping block. The mall is shedding tenants like crazy. Last big loss there was Sears, and I see no signs of any improvements there. I guess they’re going to have to put a Spirit Halloween at both ends this year, lol.

Why is it? What can be done of that mall? That is the only mall in that area and it is 2 level and has been remodeled. I went there in 2017 and it was fine. It reminded me of Nashua's Pheasant Lane Mall.

[Bdubs]

With over 200 stores set to close, I wonder which locations will close in CT? My picks are in bold.

DANBURY
FARMINGTON
MANCHESTER
TORRINGTON
TRUMBULL
WATERBURY
WATERFORD

Why Waterford and Waterbury?

I could see Waterford being in the chopping block. The mall is shedding tenants like crazy. Last big loss there was Sears, and I see no signs of any improvements there. I guess they’re going to have to put a Spirit Halloween at both ends this year, lol.

Why is it? What can be done of that mall? That is the only mall in that area and it is 2 level and has been remodeled. I went there in 2017 and it was fine. It reminded me of Nashua's Pheasant Lane Mall.

I just think days of the indoor mall are numbered. Expensive leases, online shopping, little foot traffic. I’d be curious how much time is left on that lease.  The past couple years they have lost a lot of tenants. Most of them just moving to outside locations across the street. Yankee candle, Bath & Body, Hannoush Jewelers, just to name a few have all moved out of the mall.