JC Penney announces list of store closures

JCPenney

JCPenney

The closures were part of "a continuing effort to advance sustainable growth and long-term profitability", it said in a release.

The apparel and home furnishings company originally announced its intention to close the stores in February.

Penney operates five stores in the Richmond region - at Regency Square, Virginia Center Commons, Chesterfield Towne Center, White Oak Village and Southpark Mall. The retailer said the stores slated for closure either require a lot of investment to reach the company's new standards or are barely making money.

Doors will remain open at J.C. Penney outlets at the Oakdale Mall and the Arnot Mall. "It is essential to retain those locations that present the best expression of the JCPenney brand and function", said Ellison. Most of the closures will happen in June, and the company pledged to provide outplacement support services for employees. J.C. Penney Co.is hurting as more people shop online instead of heading to the mall. Earlier this year, the company also offered a voluntary early retirement program to about 6,000 employees.

The Midland store was remodeled in October 1976, and again in 1984, On Aug. 15, 1990, it was announced J.C. Penney would be one of four anchor stores at Midland Mall.

The company said last month it would close up to 140 stores, and 138 are on today's list.

The actual shutdown list released Friday included 138 stores.

The move followed similar store-closure announcements by Macy's and Sears.

The closings will leave J.C. Penney with a total of about 900 stores.

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