The JCPenney in Oak Ridge is not among the 138 stores closing across the country, the company said Friday, March 17, 2017. (File photo by John Huotari/Oak Ridge Today)
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.”
In addition to the 138 stores across the country, JCPenney Company Inc. will close one supply chain facility in Lakeland, Florida, and relocate one supply chain facility in Buena Park, California.
About 5,000 employee positions will be affected across the country by the store closures, most of which will occur in June, JCPenney said.
Most of the affected stores will begin liquidating on April 17.
“JCPenney is in the process of identifying relocation opportunities within the company for esteemed leaders,” a press release said. “Additionally, JCPenney will provide outplacement support services for those eligible associates who will be leaving the company.”
See the JCPenney press release here.
To view the original news release issued on February 24, visit http://www.jcpnewsroom.
More information will be added as it becomes available.
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