JCPenney will close 138 stores nationwide in a move affecting 5,000 employees, the company announced Friday morning, March 17.
The 138 figure includes seven Michigan-based stores, ranging from the Upper Peninsula to Battle Creek.
“JCPenney is in the process of identifying relocation opportunities within the Company for esteemed leaders,” the release reads. “Additionally, JCPenney will provide outplacement support services for those eligible associates who will be leaving the Company.”
JCPenney reports in a news release that most closures are expected to occur in June of this year, and most liquidation sales will start April 17.
See below for the seven stores set to close in Michigan:
- Lakeview Square Mall — Battle Creek
- Delta Plaza — Escanaba
- Westshore Mall — Holland
- Copper Country Mall — Houghton
- Birchwood Mall — Kingsford
- Midland Mall — Midland
- Cascade Crossings Sault Ste. Marie
Friday’s news comes less than a month after the retail chain announced it would close 130-140 positions to “align the Company’s physical store footprint and omnichannel network.”
In February, JCPenney reported that the stores closing represent between 13 and 14 percent of the company’s portfolio and less than 5 percent of its sales.
“We believe the relevance of our brick and mortar portfolio will be driven by the implementation of these initiatives consistently to a larger percent of our stores,” Marvin Ellison, company CEO, said in the release. “Therefore, our decision to close stores will allow us to raise the overall brand standard of the Company and allocate capital more efficiently.”
“We understand that closing stores will impact the lives of many hard working associates, which is why we have decided to initiate a voluntary early retirement program for approximately 6,000 eligible associates.”
JCPenney will close 7 stores in Michigan – MLive.com