JC Penney announces closures, Merced survives, Los Banos set to close

JC Penney, the 118-year-old company, is permanently closing 154 stores. This comes after the company filed for Chapter 11 bankruptcy.

The company announced their list of store closures Thursday. The list of store closures show Los Banos on the list. Merced however, survived the round of closures.

JC Penney is currently more than 3.7 billion in debt.