JCPenney is closing its Coon Rapids location following a June 11 order in its bankruptcy proceedings.
The Riverdale Village location is one of 154 stores closing around the country as the company implements the first phase of its store optimization strategy, according to a statement from the company.
Initial closures were expected to begin June 12 and take a few months to complete. Announcements on additional stores to be shuttered are expected in coming weeks, according to the company.
“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,” CEO Jill Soltau said in a statement.
On May 15 JCPenney entered a restructuring support agreement with lenders that including filing for Chapter 11 bankruptcy.