Money J.C. Penney says it plans to close nearly 29% of stores – or 242 locations – as part of its bankruptcy May 18, 2020May 18, 2020USA TODAYComments Off on J.C. Penney says it plans to close nearly 29% of stores – or 242 locations – as part of its bankruptcy J.C. Penney plans to close roughly 29% of its department stores as part of its bankruptcy. According to documents, 242 stores are slated to close.