Of the 1,000 J.C. Penney’s stores in the U.S., 138 will be shutting their doors during the second quarter of this year.
A list of 138 J.C. Penney stores slated to close across the country does not include the La Palmera location in Corpus Christi. Liquidation of the inventory in the closing stores begins April 17. Closures should be finalized in all 138 stores by June.
Of the 1,000 stores currently open, the small, rural stores, representing 14 percent of the company’s inventory, are closing. That 14 percent represents only 5 percent of the company’s sales. Some 5,000 employees will lose their jobs due to the closings. The move was announced after a dismal fourth-quarter earnings report earlier this year.
“We believe closing stores will … allow us to adjust our business to effectively compete against the growing threat of online retailers," J.C. Penney CEO Marvin Ellison said in a statement.
The nine stores closing in Texas are in:
• Athens Village Shopping Center, Athens
• Borger Shopping Plaza, Borger
• Downtown El Paso
• Heartland Mall, Early
• Marshall Mall, Marshall
• McAllen Downtown, McAllen
• University Mall, Nacogdoches
• King Plaza Shopping Center, Seguin
• Bosque River Center, Stephenville
