More Store Closures From JC Penney By 2021: Is Your Location On The List?
12/18/20 AT 7:49 AM Signage is displayed at the entrance of a JC Penney department store inside the Manhattan Mall on May 15, 2017, in New York City. Photo: Drew Angerer/Getty Images
More store closings are on the horizon for JC Penny despite emerging from bankruptcy under the new ownership of mall owners Simon Property Group and Brookfield Asset Management Inc.
The department store retailer will close 15 more stores by the end of March 2021 after shuttering more than 150 locations since it filed bankruptcy in May, USA Today reported.
JC Penney entered a turnaround plan under the leadership of CEO Jill Soltau back in August 2019, but it wasn’t enough to save the retailer from its financial woes. The company’s lagging sales coupled with mounting debt was only further compounded by temporary store shutdowns during the coronavirus pandemic, which eventually forced it into Chapter 11.
Maybe itâs a good thing that more people in town are buying trees this year, because thereâs a lot of good natured competition among three different sellers: Trancas Canyon Nursery, a long-time local small business; the MHS Athletic Booster Club Christmas Tree Lot at the Civic Center, which sells trees to raise money for school athletics; and the Delancey Street Foundation pop-up tree lot in Malibu Village, which is new this year and also raising money for a worthy cause.
âPeople are definitely buying earlier this year,â said Debbi Stone, manager of the Trancas Nursery. âI think they need the Christmas spirit because theyâre stuck at home and not planning to travel anywhere for the holidays.
Steve Cahalan
Hacienda Vieja Mexican Grill & Bar is expected to open within a few months in Suites 105 and 106 in Old Town Center at 208 S. Holmen Drive.
âWe are hoping to open sometime in February,â Daniela Solis said last week. The restaurant will be owned by her husband, Antonio Leon, and by Reyes Aranda Jr. and Fabian Arzate, Solis said.
The restaurant will feature authentic Mexican food, Solis said. It also will have a full bar and outside and inside seating.
All of Old Town Centerâs spaces will be occupied once the restaurant opens, said Ed OâBrien, whose family built and owns the development.