India, April 19 -- JCPenney is set to close multiple stores across the U.S. in a matter of weeks. By the end of May, seven stores of JCPenney will close, according to a statement by the departmental store chain.

Only the store in Annapolis' Westfield Mall, Maryland will remain open. The statement by JCPenney read, "We are excited to announce that we have agreed a lease extension to keep the store open at least through August 31, 2025, and are in continuing negotiations with our landlord for a new long-term lease."

JCPenney called the May closures "isolated" and stated there are "no plans to significantly reduce our store count."

The seven stores that are announced to close are:

- Tanforan in San Bruno, California.

- Northfield in Den...