JCPenney says it plans to spend more than $1 billion by the end of 2025 in a bid to revive the storied but troubled 121-year-old department store chain.

(CNN) – The end is near for about one out of every six JCPenney stores. With many stores closed because of health concerns in late March and throughout April, some bankruptcy filings were delayed because of the inability to hold store closing sales, according to industry experts. The flood of retail bankrupticies that started in May, as businesses were allowed to reopen, could continue to pick-up steam now that store closing sales are again possible. With the 120 stores reopening Wednesday, JCPenney now has virtually its entire network of stores open again. The widespread store closing sales at JCPenney is further bad news for rivals such as Macy's, Sears and Kohl's, which now must compete with rock-bottom prices at many JCPenney stores.