JC Penney Closing 33 Stores, Cutting Jobs

JC Penney announced Wednesday that it is closing 33 "underperforming" stores and cutting 2,000 jobs as part of its turnaround efforts.

None of the closings are in Georgia. There's a busy JC Penney in Georgia Square Mall. The closures and job cuts are expected to save the company about $65 million a year.

Remaining inventory in the affected stores will be sold over the next several months, with final closings expected to be complete by early May. The company is still moving forward with plans to open a new store location later this year in Brooklyn, NY.

"As we continue to progress toward long-term profitable growth, it is necessary to reexamine the financial performance of our store portfolio and adjust our national footprint accordingly," Myron E. (Mike) Ullman, III, chief executive officer of JC Penney said in a prepared statement. "While it's always difficult to make a business decision that impacts our valued customers and associates, this important step addresses a strategic priority to improve the profitability of our stores and position JC Penney for future success."

Stores that are closing are:

Selma Mall in Selma, Ala.

Arrow Plaza in Rancho Cucamonga, Calif.

Chapel Hills Mall in Colorado Springs, Colo.

Meriden Square in Meriden, Conn.

Lake Square Mall in Leesburg, Fla.

Gulf View Square in Port Richey, Fla.

Muscatine Mall in Muscatine, Iowa

Stratford Square Mall in Bloomingdale, Ill.

Hickory Point Mall in Forsyth, Ill.

Five Points Mall in Marion, Ind.

Marketplace Shopping Center in Warsaw, Ind.

The Centre at Salisbury in Salisbury, Md.

Westwood Plaza in Marquette, Mich.

Northland Mall in Worthington, Minn.

Singing River Mall in Gautier, Miss.

Natchez Mall in Natchez, Miss.

Butte Plaza Shopping Center in Butte, Mont.

Cut Bank, Mont.

Vernon Park Mall in Kinston, N.C.

Burlington Center in Burlington, N.J.

Phillipsburg Mall in Phillipsburg, N.J.

Wayne Towne Plaza in Wooster, Ohio

Exton Square Mall in Exton, Pa.

Laurel Mall in Hazleton, Pa.

Washington Mall in Washington, Pa.

Northgate Mall in Chattanooga, Tenn.

Bristol Mall in Bristol, Va.

Military Circle Mall in Norfolk, Va.

Forest Mall in Fond Du Lac, Wis.

Janesville Mall in Janesville, Wis.

Lincoln Plaza Center in Rhinelander, Wis.

Cedar Mall in Rice Lake, Wis.

Wausau Mall in Wausau, Wis.

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