Thread regarding JCPenney layoffs

"Saved" is a relative term. The company has been saved for the time being but we still haven't seen a strategy to boost sales and store traffic. If anything, Simon and Brookfield being part owners will put them in the driver's seat as malls change and evolve.

Its hard to say if traditional Malls will survive after so many stores are closed or they filed for some kind of bankruptcy. Is it the end of Penneys? Only time will tell.

My store is owned by JCPenney. Eastgate Mall Cincinnati. Mall is owned by CBL.

My Sears closed because it was leased by CBL and they didn't want to renew the lease. I'm sure it would be closer by now, but it might have stayed open a few months more (or maybe it being leased was the only reason it was open as long as it was)

They've already said about a third of the existing stores will close.

Simon and Brookfield locations are safe. Non-Simon/BF locations that are currently JCP-owned will likely be put on the market for real estate but will survive as JCP in the short term. Non-Simon/BF stores that are leased are doomed...expect upcoming liquidations. This likely includes the many Namdar/Mason locations.

I worked at Sears. Started the August after Eddie saved Sears, few weeks latera my store got the axe because they didn't renew the lease.

Sears was saved too and look how that played out.

This! This is the same situation in my store. Everyone is so depressed at this point that, sad as it is, liquidation would be a release from the intimidation and uncertainty of working for JCPenney

I agree. They are just postponing the inevitable. I am an associate at a location staying open. Zero staff for the most part (at least who actually do the work). Very dead most days. Actually would be better off liquidating but not my call.

More like the death is pushed off slightly longer. Do you really think a group of (failing) mall owners can make a go of running a retail operation? They will keep the stores until they can figure out a better use for them (Amazon, or whatever), and bye bye Penney's. Also, it isn't set in stone. Mall owners tried to do the same thing with Bon Ton, but in the end, the offer was rejected and they liquidated.