Going-out-of-business sales at 136 closing J.C. Penney stores began yesterday, USA Today reported. The discounts range from 25 to 40 percent off original prices storewide. All sales will be final starting on June 25, according to the company. The retailer, which filed for chapter 11 protection May 15, also updated its list of stores that will permanently close in its first wave of closures. J.C. Penney announced June 4 that 154 stores would close in its first wave of closings but now 136 stores are on the list. However, the removed locations may still close."A handful of previously announced store closing locations remain on hold pending further review," J.C. Penney said in a blog post. The retailer is expected to close 242 stores for good, or about 29 percent of its 846 locations with 192 stores expected to close in the current fiscal year, which ends in February, and then 50 in the next fiscal year. After the closings, the company will have around 604 remaining locations.
