Business & Tech
JCPenney Closing Stores, Laying Off 2,000 — Here's the List
Troubled retailer hoping to save $65 million a year, follows recent Macy's announcement on closings and layoffs.
JCPenney will close 33 "underperforming" stores and cut 2,000 jobs in an effort to save money and turnaround the struggling company.
The company announced the move Wednesday. The Potomac Mills location will remain open and the location has recently gone through significant renovations.
Closing Virginia locations include sites in Bristol and Norfolk.
The closures and job cuts are expected to save the company about $65 million a year. The closings are expected to be complete by early May.
"As we continue to progress toward long-term profitable growth, it is necessary to reexamine the financial performance of our store portfolio and adjust our national footprint accordingly," Myron E. (Mike) Ullman, III, chief executive officer of J.C. Penney said in a prepared statement. "While it's always difficult to make a business decision that impacts our valued customers and associates, this important step addresses a strategic priority to improve the profitability of our stores and position J.C. Penney for future success."
Complete list of closing stores, according to JCPenney.
Selma, Ala. -- Selma Mall
Rancho Cucamonga, Calif. -- Arrow Plaza
Colorado Springs -- Chapel Hills Mall
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Meriden, Conn. -- Meriden Square
Leesburg, Fla. -- Lake Square Mall
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Port Richey, Fla. -- Gulf View Square
Muscatine, Iowa -- Muscatine Mall
Bloomingdale, Ill. -- Stratford Square Mall
Forsyth, Ill. -- Hickory Point Mall
Marion, Ind. -- Five Points Mall
Warsaw, Ind. -- Marketplace Shopping Center
Salisbury, Md. -- The Centre at Salisbury
Marquette, Mich. -- Westwood Plaza
Worthington, Minn. -- Northland Mall
Gautier, Miss. -- Singing River Mall
Natchez, Miss. -- Natchez Mall
Butte, Mont. -- Butte Plaza Shopping Center
Cut Bank, Mont.
Kinston, N.C. -- Vernon Park Mall
Burlington, N.J. -- Burlington Center
Phillipsburg, N.J. -- Phillipsburg Mall
Wooster, Ohio -- Wayne Towne Plaza
Exton, Pa. -- Exton Square Mall
Hazleton, Pa. -- LaurelMall
Washington, Pa. -- Washington Mall
Chattanooga -- Northgate Mall
Bristol, Va. -- Bristol Mall
Norfolk, Va. -- Military Circle Mall
Fond du Lac, Wis., Forest Mall
Janesville, Wis. -- Janesville Mall
Rhinelander, Wis. -- Lincoln Plaza Center
Rice Lake, Wis. -- Cedar Mall
Wausau, Wis. -- Wausau Mall
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