J.C. Penney Comments on Fate of Quaker Bridge, Oxford Valley & Cherry Hill Stores
Retail giant J.C. Penney just announced plans to close more stores after a disappointing holiday season. So we wanted to find out about the fate of our local stores.
J.C. Penny just confirmed to WPST and Townsquare Media that their stores in the Cherry Hill Mall, Oxford Valley Mall, and Quaker Bridge Mall are NOT on the list of 18 stores, which will be closing this year.
They did, however, confirm the closure of their store inside the Hamilton Mall in Mays Landing, Atlantic County. In a statement issued to Townsquare Media, they said that the store will close on July 5.
“This decision is the result of an ongoing review of our store portfolio, which includes assessing locations that may not meet our required financial targets or represent an opportunity to capitalize on a beneficial real estate asset,” the company wrote in a statement issued to WPST. “It’s never easy taking actions that directly impact our valued associates and customers, however, we feel this is a necessary business decision.”
Of course, many department stores across the country have been struggling to survive in malls across the country. Sears recently emerged from Chapter 11 bankruptcy, but they have been forced to close hundreds of stores across the country in recent years.
A complete list of J.C. Penney stores that will be closing this year has not been made available just yet.