J.C. Penney implosion hits two New York City malls

J.C. Penney’s bankruptcy is resulting in a bloodbath for its employees and pain for its landlords. The retail chain, which will close nearly a third of its 846 stores over the next two years as part of its bankruptcy restructuring, is laying off all of its employees in its Kings Plaza and Manhattan Mall locations. J.C. Penney’s Manhattan Mall store anchors the retail property and served as the company’s introduction to the borough. The 150,000-square-foot

source https://therealdeal.com/2020/07/16/j-c-penney-implosion-hits-two-new-york-city-malls/