Is the Lawton JCPenney Closing
Earlier this week we got the bad news that Dillard's in Lawton at the Central Mall will be closing. We'd been hearing rumors for days, then it became reality. Well another rumor is circulating now and it's more closures in Lawton and at the Central Mall. JCPenney is facing bankruptcy and is expected to file Chapter 11 this Friday (05-15-20).
The company is seeking a $450 million dollar loan and in order to make that happen they have to close 180 to 200 stores. Now at this time we have no idea what stores will be closing those details won't be made public until after the loan and bankruptcy have been completed. In Lawton people are already convinced they'll be closing the JCPenney at the Central Mall. It's possible, however at this time it's just rumor, no one knows for sure.
The chain like many brick and mortar retailers have been struggling over the past several years combating online competitors like Amazon and others that offer the same products and typically at better prices. It hasn't been easy and with the COVID-19 crisis it's gotten much, much worse. Now with little to no sales or traffic as most stores are closed due to the virus and with no real end in sight, JCPenney is in for the fight of it's life.
With Dillard's closing it's store in Lawton the last thing we need is JCPenney leaving as well. It would no doubt kill the mall and would leave all it's major retail space completely empty. With no anchor stores like Sears, Dillard's and JCPenney I seriously doubt the mall could remain open. Obliviously this would be catastrophic to not only the mall, but to Lawton as a whole. We'd be losing even more jobs and tax revenue at a time that we need it most. Hopefully we'll make the cut and our JCPenney will stay open. We'll find out soon enough. *Fingers crossed*