JCPenney is selling 119 stores for $975 million, marking a new chapter for the 123-year-old retailer while it continues its recovery since declaring bankruptcy in 2020.

The deafening roar of hundreds of sewing machines has gone silent. Spools of thread in every color are covered in dust. The warehouse is dark and empty.

Walking through the main entrance of the store at lunchtime this past week, clothing on sale racks was neatly displayed, but ...