JCPenney plans to close more than 240 stores

National

FILE – In this May 8, 2020, file photo, a J.C. Penney store sits closed in Roseville, Mich. The coronavirus pandemic has pushed troubled department store chain J.C. Penney into Chapter 11 bankruptcy. It is the fourth major retailer to meet that fate. Penney said late Friday, May 15, 2020, it will be closing some stores and will be disclosing details and timing in the next few weeks. (AP Photo/Paul Sancya, File)

NEW YORK (AP) — J.C. Penney will close almost 30% of its 846 stores as part of a restructuring under bankruptcy protection.

The ailing department store said Monday that it plans to close about 192 stores by February 2021, and then 50 additional stores in the year after that.

That would leave the company with just over 600 locations.

J.C. Penney filed for bankruptcy reorganization on Friday, making it the biggest retailer to do since the coronavirus pandemic forced them to shut down all stores.

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