JCPenney announces which stores it will be closing


Posted on: March 17th, 2017 by ABC News No Comments

Noam Galai/Getty Images(NEW YORK) — Last month, JCPenney announced it would be closing up to 140 of its stores in an effort to sustain profitability and compete against online retailers. And now, the company has revealed which of its locations will be affected.

In all, 138 stores will be closed, along with a supply chain facility in Lakeland, Florida. Another supply chain facility in Buena Park, California will be relocated.

[ CLICK HERE TO SEE JCPENNEY’S FULL LIST OF UPCOMING STORE CLOSURES ]

JCPenney said most stores will close in June but begin the liquidation process on April 17.

“Our decision to close stores will allow us to raise the overall brand standard of the Company and allocate capital more efficiently,” JCPenney CEO Marvin Ellison explained in a statement last month.

“We believe closing stores will also allow us to adjust our business to effectively compete against the growing threat of online retailers,” he added.

Approximately 5,000 positions will be affected by the store closures across the U.S., JCPenney said.

The retailer said affected workers will receive separation benefits, which include help finding other employment opportunities as well as assistance in writing resumes and preparing for interviews.

Copyright © 2017, ABC Radio. All rights reserved.



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JCPenney announces which stores it will be closing


Posted on: March 17th, 2017 by ABC News No Comments

Noam Galai/Getty Images(NEW YORK) — Last month, JCPenney announced it would be closing up to 140 of its stores in an effort to sustain profitability and compete against online retailers. And now, the company has revealed which of its locations will be affected.

In all, 138 stores will be closed, along with a supply chain facility in Lakeland, Florida. Another supply chain facility in Buena Park, California will be relocated.

[ CLICK HERE TO SEE JCPENNEY’S FULL LIST OF UPCOMING STORE CLOSURES ]

JCPenney said most stores will close in June but begin the liquidation process on April 17.

“Our decision to close stores will allow us to raise the overall brand standard of the Company and allocate capital more efficiently,” JCPenney CEO Marvin Ellison explained in a statement last month.

“We believe closing stores will also allow us to adjust our business to effectively compete against the growing threat of online retailers,” he added.

Approximately 5,000 positions will be affected by the store closures across the U.S., JCPenney said.

The retailer said affected workers will receive separation benefits, which include help finding other employment opportunities as well as assistance in writing resumes and preparing for interviews.

Copyright © 2017, ABC Radio. All rights reserved.



Leave a Reply

You must be logged in to post a comment.

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Carlson\'s Drive In Michigan City