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JCPenney closed more than 200 U.S. locations when the retailer filed for bankruptcy amid the COVID-19 pandemic. More recently, store closings announced in February 2025 became official in May 2025.

JCPenney closed more than 200 U.S. locations when the retailer filed for bankruptcy amid the COVID-19 pandemic. More recently, store closings announced in February 2025 became official in May 2025.

Onyx Partners will pay $947 million for 119 JCPenney stores, including 21 in Texas, 19 in California and two in Puerto Rico.

All 119 stores included in the sale are currently operational. About five years after JCPenney filed for bankruptcy, a Boston private equity firm will pay $947 million for 119 JCPenney stores.