J.C. Penney Closing Up to 140 Stores and Two Distribution Centers
Problems continue to mount for troubled retailer J.C. Penney
The department store chain announced it will close up to 140 stores in the coming months, as well as two distribution centers.
J.C. Penney is expected to reveal which stores will close next month.
It’s unclear how many jobs will be lost by the closures, but J.C. Penney said it would also offer early retirement to 6,000 of its full-time workers.
The move is the latest example of retailers cutting back on brick-and-mortar stores.
Macy’s and Sears previously announced plans to close dozens of locations, while The Limited and Sports Authority shut down all of their remaining stores.