Note: This story was last updated at 4:30 p.m.
The JCPenney in Oak Ridge is not among the 138 stores closing across the country, the company said.
Three Tennessee stores are closing. One is at Knoxville Center, another is at Greeneville Commons, and the third is at County Market Place in Union City.
JCPenney said the closures are “part of a continuing effort to advance sustainable growth and long-term profitability.”
Parker Hardy, president of the Oak Ridge Chamber of Commerce, said JCPenney is a “linchpin” store for the new Main Street Oak Ridge, the 58-acre project to redevelop the former Oak Ridge Mall.
“JCPenney has been a very important part of our retail mix—particularly for apparel—ever since Mr. Penney participated in the original grand opening,” Hardy said Friday. “Penney always has been a draw for Oak Ridgers and for customers who live outside the city but inside our broader retail trade area…The fact that Penney is staying with Oak Ridge while closing stores in nearby cities says something strong about their confidence in Main Street, their confidence in our market, and their confidence in our business climate.” [Read more…]