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J.C. Penney Co. will close 40 stores over the next year, the company announced Thursday. The closures represent nearly 4% of J.C. Penney's 1,060 stores.
With the exception of J.C. Penney, which opened a location near Macy's flagship store in Herald Square in 2009, it has been years since a major department store opened in Manhattan. A number of chains have closed, including Alexanders, Bonwit Teller, Gimbels and B. Altman.ith the exception of J.C. Penney, which opened a location near Macy's flagship store in Herald Square in 2009, it has been years since a major department store opened in Manhattan. A number of chains have closed, including Alexanders, Bonwit Teller, Gimbels and B. Altman.