Amazon in talks to take over some JCPennys and Sears Stores

first_imgInternet retail giant Amazon may begin to take over some department stores that have closed down inside of malls.Amazon is currently in talks with mall giant, the Simon Property Group to convert former and even some current JCPenney and Sears stores into distribution hubs to help deliver packages , according to the Wall Street Journal.Many malls and businesses have been struggling to stay afloat due to the pandemic that is limiting sales and keeping some business closed altogether.Both JCPenney and Sears have filed for bankruptcy and are planning to close hundreds of stores.While Amazon is also struggling, their struggle has more to do with keeping up with customer demand as many shoppers have transitioned into an e-commerce shopping lifestyle.Purchasing the closed stores and turning them into shipping hubs would be beneficial to both Amazon and Simon as Amazon will be closer to their customers which would speed up shipping times, and while Amazon won’t attract foot traffic to the malls, they will help pay the bills.last_img

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