Pier 1will close about half of its stores. Macy’s will close about one-fifth of its locations in three years. J.C. Penney will close six stores.
The sale of Pier 1 Imports is underway, and closing sales are likely to begin early next week at 242 J.C. Penney stores that will permanently close losses.
How these sales are handled is different from previous fluids due to the COVID-19 pandemic.
“Safety is top of mind for most consumers today,” Naveen Jaggi, president of retail advisory services at brokerage firm JLL, told USA TODAY. “The idea of being in a crowded location with a lot of people and hitting items in a store is likely to deter some shoppers, which will affect the speed at which liquidation takes place.”
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Usually, with the start of a liquidation sale, there is a rush of buyers looking to be the first to get the best merchandise, Jaggi said, then running taper off as the items are selected.
“That big rush to go to a store where everyone was holding everything that was unlikely would happen, which would extend the extermination period,” he said.
Fewer shoppers will be allowed in stores because of coronavirus social flight guidelines.
J.C Penney liquidation sales: Closing sales to begin soon with 242 permanent store closures planned for bankruptcy
Coronavirus store closure: Pier 1 Imports to permanently shutter all stores in bankruptcy, liquidation underway
Pier 1, which began destroying May 22 online and in stores reopened following the closure of the virus, said it would “limit shopping to 25 customers at once.”
Originally, the retailer of home goods planned to close up to 450 stores, or about half of its locations. Because of the impact of COVID-19, it is closing its remaining 541 U.S. stores.
Pier 1 said it intends for its website, www.pier1.com, to be available through July, and with the start of liquidation, discounts will be available both in stores and online.
“We cannot predict exactly how long the closing process will last for a variety of reasons, but expect closing sales to end in 16 weeks,” Pier 1 told frequently asked questions. “If you want the best choice, shop as soon as possible.”
Pier 1 gift cards, merchandise credits and rewards certificates will be accepted within 21 days until May 29 when a loss-making plan is approved by a losing army. It’s June 19, but Pier 1’s website says the dates can vary by store.
Pier 1 plans to take stock returns purchased prior to the sale of the liquid for 30 days after each store opens.
J.C.’s attorneys said Penney said they hope to identify locations that will be permanently closed in a June 4 court filing. Bankruptcy Judge David Jones is due to hear about the proposed closures by June 11.
If Jones signs, sales of the liquid to the permanent closure of stores will reopen after the temporary closure begins, J.C. said Penney attorney Joshua Sussberg.
Pier 1 and J.C. Penney runs with reduced time at stores reopened. Pier 1 said its hours may vary but generally noon to 7 p.m. everyday. The time of J.C. Penney is noon to 7 p.m. Monday through Saturday and 11 a.m. to 6 p.m. Sunday.
Store closures 2020 due to COVID-19
These retailers are permanently closing stores.
Bath and Body Jobs: 50 stores
J.C. Penney: 242 locations
Nordstrom: 16 stores, three boutiques (See list here.)
Pier 1: All locations, 541 stores remaining
Tuesday morning: 230 stores (See a list of the first 132 closing locations here.)
Victoria Secret: 235 U.S. Victoria’s Secret and three Pink stores
J.C. Penney has filed for bankruptcy and is closing its doors after nearly 120 years. So why does it hurt to see them go?
Tips for sales in marketing
Here’s how to make sure you get the best deal on liquid sales:
Prepare: Prices on liquidation sales are not always the lowest you can find, especially in the beginning.
Compare prices: Do a Google search or use a price comparison website. Search the web for old shop circles to see advertised sales prices from past sales.
Review the product carefully: Open the box, look for damage and make sure all parts, accessories, instructions, warranty information and other items are included.
Use a credit card: If you experience any problems, it will give you a way to contest the charge.
Remove gift cards: If you have a gift card for Pier 1 or another financial strap retailer, use the cards as soon as possible.
Warranties: Check warranty details and find out where repairs can be made. Closing stores usually continue to sell extended warranties.
Go often: If your heart is set on an item, swing it weekly. Tag a team with a friend and share your lists with each other.
Important: When the sales of plowing start, all sales are final. If you end up buying one you don’t like, try to get your money back by selling it.
Shopping resumes: Stores, America reopens with masks, curbside pickup and closed fitting rooms
Contributor: Nathan Bomey
Follow USA TODAY reporter Kelly Tyko on Twitter: @KellyTyko
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