JC Penny Closing 27 Stores

According to Business Insider, JCPenney is planning to close 27 stores this year. The store closures span at least 13 states, including California, Florida, Georgia, North Carolina, New Jersey, and New York. 18 of the store closures will be full-line department stores and the company plans to close nine home and furniture stores. JCPenny hasn't provided media outlets with a list of specific stores yet, but some stores have already announced their closures. Most of these stores will close by July 5.