The decline of America’s department stores continues, as another major retailer has followed through with promises to close a large number of its stores.
Veteran retailer JC Penney announced this week that it is closing some 138 of its stores nationwide, which is approximately 10% of its retail footprint. The move is expected to displace some 5,000 workers.
The list of closing stores includes four JC Penneys in Ohio, including those in St. Mary’s, New Philadelphia, Findlay, and Richmond Heights. Surrounding state totals include 3 stores in Michigan, 5 in Indiana, and 7 in Pennsylvania. In a press release, company Chairman Marvin Ellison said, ““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. 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.”
The Richland Mall store in Ontario is among the 900 remaining JC Penney locations which will remain operating.
The move follows similar actions by Macy’s and Sears.