Markets 
Stores may be closing, but the savings are just getting started.
Dubbed the retail apocalypse, over the past few years, brick-and-mortar stores have seen significant shutters. Shoppers have lost some major players in the retail game due to low foot traffic, high lease prices, and the pivot toward digital.
For JCPenney, as the decline of shopping malls took a hit, the writing was on the wall. The once-booming department store and anchor to malls across America has been quietly closing down locations since 2020.
After a bankruptcy filing at the height of the pandemic in 2020, the chain announced it would be forced to close hundreds of stores. As of today, the JCPenney store locator tool on its website showed 641 locations in the United States.
At the store’s peak back in the 1970s, shoppers had more than 2,000 locations to choose from. At the beginning of 2020, that number dropped to just 846 stores, according to the Securities and Exchange Commission.
The next location The Post could confirm that is closing for good is in Pittsburgh in September of this year at 1006 Ross Park Mall Drive, Pittsburgh, PA 15237.
The Post reached out to JCPenney for an exact number of stores closing this year but has not yet heard back.
While closures are never great news for shoppers, one upside is deals. And the retail giant has dropped the price on some pretty expensive items.
However, it’s not clear if the chain is dropping deals to get rid of its supply or if it’s a planned event.
First up, jewelry wearers can score a crazy bargain on their sterling silver or gold earrings. Originally priced at a steep $124.98, the two-pair set has been marked down to just $15. That’s an 88% savings.
Another item to score at a major discount is the White Diamond 14K Rose Gold Over Silver Sterling Silver Heart Side Stone Cocktail Ring. Now priced at a cool $114, shoppers can save nearly 75% as the original price was $436.89.
JCPenney also has tons of other items in different sections like home, handbags, outerwear, kids, and more under its clearance section on the website. There is also a “$5 and under” as well as a “$10 and under” category where shoppers can score clothes, candles, jewelry and more.
While department stores have clearly taken a hit, other retail sectors have fallen on tough times. Pharmacies, retailers, and banks are facing the same types of shutdowns as inflation rages on.
Rite Aid filed for bankruptcy and revealed in October of 2025 that it was closing down all locations after more than 60 years in business. Back in 2024, its rival Walgreens announced it too would shut around 1,200 stores over the next three years as part of its turnaround plan.
Banks also were facing major cutbacks, as the Wall Street Journal reported over 6,000 commercial bank branches closed in the last five years across the country. Most of the branches were in low-income and rural communities.
In 2025, US Bank closed down 92 branches, with Wells Fargo trailing close behind, shutting 91 locations. Flagstar Bank closed 73, while Bank of America closed 45.
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