CLEVELAND – What we know: JCPenney is hurting.
The company plans to shutter as many as 140 stores in 2017. The department store chain has not disclose how many jobs would be cut, but it said it is also offering early retirement to 6,000 full-time employees.
RELATED: Read the news release from JCPenney
The closings should take place by the end of June. The locations will be revealed by mid-March. JCPenney will also close two distribution centers. It had 105,000 employees manning 1,021 stores as of a year ago.
MORE: About potential JCPenney closures from Don’t Waste Your Money
Based on data about store sales, Morningstar Credit Ratings has identified 39 stores most at risk of closing.
Ohio stores at risk:
- Great Northern Mall, North Olmsted
- Northtowne Mall, Defiance
There are 12 JCPenney stores within 50 miles of downtown Cleveland, including several in Akron.
READ MORE: News5Cleveland.com
Article Courtesy of WEWS News 5 Cleveland
Picture Courtesy of Kena Betancur and Getty Images