JCPenney at the Oak Ridge Mall will stay open as the company closes 33 stores across the United States.
The JCPenney in Oak Ridge will stay open as the retailer closes 33 underperforming stores across the United States.
The list of closures announced Wednesday includes only one Tennessee store, the JCPenney at Northgate Mall in Chattanooga.
The JCPenney in Oak Ridge is at the city’s mostly empty mall, where a $85 million redevelopment has been proposed. Crosland Southeast, the North Carolina company that has had a purchase contract on the mall since January 2013, has said the renovated 59-acre site could open in  2016 and include a mix of retail and office space, a hotel, and up to 50 multi-family residential units, as well as a few restaurants. Belk and JCPenney are expected to stay. [Read more…]
