I guess it depends how you define the original.
JCPenney was founded by James Cash Penney and William Henry McManus. The original name for the store that started Penney in the dry goods business was The JCP Store, owned by T. M. Callahan in Longmont, Colorado. It was later changed to J. C. Penney Company when it was sold in 1912 by T. M. Callahan to his protege, J. C. Penney. The mother store is located in Kemmerer, Wyoming, and still operates, as of 2009, albeit with hours shorter than many of its other store locations.