JC Penney lists 138 stores closing; 5000 employees impacted

J.C. Penney officials have announced the company will close almost 140 stores and two distribution facilities.

J.C. Penney also announced the closing of a supply chain facility in Florida and the relocation of one in California.

The company released more details on the closures as well as a complete list of stores nationwide that are closing. Most of the affected stores will begin the liquidation process on April 17.

When the list of the 138 stores to be closed came out Friday morning, no Kentucky JCPenney store was on it.

Friday, the company announced which stores would be closing.

The plan to shut down a long list of underperforming stores was originally announced February 24.

The announcement comes on the heels of other department store bankruptcies, including Tuesday's announcement that Gordman's will liquidate all its stores, including its location in The Village at Cumberland Park in Tyler.

To offset employee displacement, the corporation is offering early retirement incentives to approximately 6,000 eligible associates.

JCPenney says the company is seeking to cut costs and improve profitability.

JC Penney is the largest store in the Dunn Avenue shopping center, which also has a Winn-Dixie and a Bealls Outlet. The chain has struggled in recent years as consumers have turned to shopping online, as have many other major retailers.

The company said it believes closing stores will allow it to adjust "to effectively compete against the growing threat of online retailers". In Pennsylvania, stores in King of Prussia, Bloomsburg, Clearfield, Towanda, Philadelphia, Pennsdale and Willow Grove will close.

On March 1, 1978, when Towne Square Mall opened its doors, JCPenney was anchoring the north end.

Related news