Robert Barnes | Getty ImagesThe liquidation offers are on their method. J.C. Penney is planning to kick off a spherical of retailer closure gross sales as quickly as subsequent month. The division retailer chain, which filed for Chapter 11 chapter safety on Might 15, plans to file a retailer closing process movement on June 4, for a listening to set to happen on June 11, at which level some gross sales will start, Kirkland & Ellis lawyer Joshua Sussberg mentioned Thursday throughout a digital courtroom standing replace. After which on July 1, a smaller, second part of retailer closing gross sales will begin, Sussberg mentioned. An inventory of the Penney places set to shut over the summer time couldn’t instantly be obtained by CNBC. “All in all, these retailer closing gross sales will happen [over] 12 to 14 weeks,” Sussberg mentioned on the decision. He mentioned the plan is for Penney to maximise the back-to-school season, granted youngsters are ready to return to highschool through the coronavirus pandemic. The bankrupted firm had mentioned earlier this month that it plans to completely shut nearly 30% of its 846 shops, as a part of its restructuring. It has mentioned it plans to shut 192 shops by February 2021, adopted by one other 50 in 2022, leaving the corporate with just a little greater than 600 malls in malls throughout the nation. Meantime, Penney mentioned in a separate press launch Thursday that it has reopened 150 extra shops in 27 states, bringing the overall variety of places that it has reopened through the Covid-19 disaster to 304. It mentioned 5 places are doing curbside pickup solely. And the corporate mentioned practically 500 outlets ought to be reopened by June 3. In accordance with Sussberg, Penney’s gross sales are down about 39% yr over yr, and traits are bettering as further places reopen. The corporate has additionally requested from all of its landlords a lease abatement for the months of June, July and August, he mentioned.