J.C. Penney will close seven stores in Illionis as part of a nationwide cost-cutting effort to improve the chain’s profitability.
A total of 138 J.C. Penney stores in the nation are earmarked for closure. Illinois will lose stores at the Centerpointe-Woodridge shop in Woodridge; Eastland Mall in Bloomington; Fulton Square in Canton; Village Square Mall in Effingham; Peru Mall in Peru; Northland Mall in Sterling; and the standalone Macomb store, according to a list released by J.C. Penney.
Company officials said in February that the remaining J.C. Penney stores will focus on being destinations for customers interested in personalized beauty products and services, special sizes, less-expensive brands and respected products and services for the home.
The company estimates that 5,000 jobs will be eliminated in the restructuring. Most of those jobs will be phased out in June, the company said. Those leaving the company might be eligible for support services designed to help them find employment elsewhere.
“We understand that closing stores will impact the lives of many hard-working associates, which is why we have decided to initiate a voluntary early retirement program for approximately 6,000 eligible associates,” Chairman and CEO Marvin Ellison “By coordinating the timing of these two events, we can expect to see a net increase in hiring as the number of full-time associates expected to take advantage of the early retirement incentive will far exceed the number of full-time positions affected by the store closures.”
The liquidation process for the affected stores was set to begin April 17.
Alerts Sign-up