J.C. Penney and Uniglo at Willow Grove Park Mall to Close

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Willow Grove Park Mall opened in 1982 and has over 130 stores along with several restaurants. Pennsylvania Real Estate Investment Trust, the mall's owner, announced that the J.C. Penney and Uniglo stores at the mall will be closing.

Pennsylvania Real Estate Investment Trust has been hit by the announcement of several store closures, including the J.C. Penney and Uniglo stores at the Willow Grove Park Mall, writes Natalie Kostelni for Philadelphia Business Journal.

The news was disclosed by PREIT’s CEO, Joe Coradino, during a conference call with analysts. In addition to the two Willow Grove closures, the mall operator said that the Uniglo at Cherry Hill Mall will also be shutting up shop.

Last year, Korean retailer Uniqlo announced it was scaling back by closing several of its stores after its aggressive expansion into the United States.

J.C. Penney also announced significant reduction in its brick-and-mortar footprint, indicating that it would be shuttering anywhere between 130 and 140 of its departments stores.

These closures are only the latest in what is becoming a trend among many retailers hit by stiff online competition, and it seems likely that they will not be the last.

The parent company of Eastern Outfitters filed earlier this month for Chapter 11 bankruptcy protection. Eastern Mountain Sports has 62 brick-and-mortar locations, including a store at the Providence Town Center in Collegeville and on Lancaster Avenue in Haverford.

Read more about the closures at Philadelphia Business Journal by clicking here.

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