Business & Tech
JC Penney Closing Stores, Cutting Jobs
The moves are expected to save the company $65 million a year.
JC Penney announced Wednesday that it is closing 33 "underperforming" stores and cutting 2,000 jobs as part of its turnaround efforts.
Click here for the full list of store closings. None of the store closings are in New Hampshire or Massachusetts. JC Penney has locations in Newington, Nashua, Manchester, Concord and Salem.
The closures and job cuts are expected to save the company about $65 million a year.
Remaining inventory in the affected stores will be sold over the next several months, with final closings expected to be complete by early May. The company is still moving forward with plans to open a new store location later this year in Brooklyn, NY.
"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 JC 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 JC Penney for future success."
The Douglas County JC Penny, located 6700 Douglas Blvd., in Douglasville at Arbor Place Mall, is not yet on the list.
The stores that are closing are:
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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