July 9, 2020 Comments Off on JCPenney Closes 150K-SF Manhattan Mall Location Views: 544 Midtown New York, New York News

JCPenney Closes 150K-SF Manhattan Mall Location

Order Reprints...

JCPenney is closing two of its five remaining New York City stores, the retailer announced Tuesday. The 150,000-square-foot Manhattan Mall location near Herald Square will not reopen from the pandemic shutdown, while the Kings Plaza store in Brooklyn will close permanently on Sept. 27.

Plano, TX-based JCPenney filed for bankruptcy protection in May, and announced store closings. “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,” CEO Jill Soltau said last month.

The Manhattan Mall, formerly the flagship location of the Gimbels department store chain, had counted JCPenney as a tenant since 2009. The store’s closure leaves the Vornado Realty Trust property with no anchor tenant.

JCPenney’s three other New York City stores—in the Bronx, Brooklyn and Staten Island—are expected to remain open, NBC News reported.

Photo courtesy of Vornado Realty Trust.

Read more at NBC News

Connect With JCPenney Attorneys


Get CRE News in 150 words

For comments, questions or concerns, please contact Paul Bubny

Tags: ,

Comments are closed.