J.C. Penney announced on Friday that it will close up to 140 stores in the coming months, but hasn’t identified specific locations that will be impacted.
Here are five things to know about the store closures and the local impact:
1. The retail chain has a presence in the Dayton region with seven stores, including one at the Dayton Mall in Miami Twp., one at Fairfield Commons in Dayton and one at the Miami Valley Mall in Piqua, according to J.C. Penny’s website. The company also has stores at Bridgewater Falls Shopping Center in Fairfield Twp., Governors Plaza in Cincinnati, Eastgate Mall in Cincinnati and Stone Creek Town Center in Colerain Twp.
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2. A list of the stores to be closed will be released in March, according to a company statement. J.C. Penney will first alert employees about the closures. All the stores should be closed in the second quarter of 2017. Two distribution facilities will also shut down.
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3. About 6,000 employees are eligible for a voluntary early retirement program, the company also announced.
4. In January 2015, J.C. Penney announced it would close a store at the Upper Valley Mall in Springfield and another location in Greenville.
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5. The announcement comes as several other retailers decide to close brick-and-mortar locations across the U.S. Retailers that are downsizing include: Macy’s, Sears, Kmart and Ann Taylor.
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