Sport

Upstate JCPenney store set to close

Upstate JCPenney store set to close

The Midland store was remodeled in October 1976, and again in 1984, On Aug. 15, 1990, it was announced J.C. Penney would be one of four anchor stores at Midland Mall.

Longtime mall staple J.C. Penney released a list Friday of 138 upcoming store closures, a move that will impact about 5,000 employees across the country.

The company says about 5,000 positions nationwide will be impacted by the store closures, most of which will occur in June.

The locations either need expensive, extensive renovation or are underperformers financially, the company said. J.C. Penney said it will provide outplacement support for those who will lose their jobs.

Liquidation sales in those stores will begin April 17. Contacted in February after the retailer first announced its plans to close dozens of its stores, the mall's marketing director told the Athens Banner-Herald/OnlineAthens.com that JCPenney had recently renewed its lease at Georgia Square.

In January, Macy's announced 68 stores that it was closing this year.


The other MI stores being closed are in Escanaba, Houghton, Kingsford, Midland, and Sault Ste. Stores in Dunkirk, Massapequa and West Nyack will shut down.

J.C. Penney and other national retailers are struggling to adapt to a changing retail landscape. The company said that it would also initiate a voluntary early retirement program for about 6,000 eligible employees.

J.C. Penny is the latest department-store chain to make adjustments to address lower mall traffic and fierce online competition.

The Fremont and North Platte stores are both in malls. The stores identified for closure either require significant capital to achieve JCP's new brand standard or are minimally cash flow positive today relative to the company's overall consolidated average.

Closing stores, he added, "will also allow us to adjust our business to effectively compete against the growing threat of online retailers".