Will Crossroads J.C. Penney Open Again?
Like me, I'm sure most of us grew up with memories of J.C. Penny. Remember, back in the day, it was the store that had just about everything from underwear to household appliances.
St Cloud's J.C. Penney store has been closed since due to Minnesota state guidelines regarding the COVID-19 pandemic.
But now it looks like there is a chance they may not reopen. Recently J.C.Penny "skipped" a 12 million dollar interest payment which could lead them to file for bankruptcy by May 15th. The plan is once the bankruptcy is filed, they will close approximately 25% of their retail stores.
Most retailers are struggling right now and besides losing another mall anchor store, many people could be out of work.
Let's hope the 75% of stores that will survive the cut include the Crossroads store in St Cloud. If these large retail operations are struggling, I can't imagine how tough all this economic chaos is on the smaller retail businesses in the mall.
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