J.C. Penney Company announced they will be closing 130 – 140 stores and 2 distribution facilities over the next few months.
The following stores will be closed in the Upstate and western NC.
Gastonia – Eastridge Mall
Hendersonville – Eastridge Mall
Easley – Town ‘N Country
They say the move is to align the company’s brick-and-mortar presence with it’s omnichannel network.
“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. By coordinating the timing of these two events, we can expect to see a net increase in hiring as the number of full-time associates expected to take advantage of the early retirement incentive will far exceed the number of full-time positions affected by the store closures,” said Marvin R. Ellison, chairman and chief executive officer of JCPenney.
They say the total store closures represent 13 – 14 % of the Company’s current store portfolio and less than 5% of total annual sales.