The closures were announced on Friday after weeks of speculation. But surprisingly the Montgomeryville Mall store, which was among those predicted to close by June, was spared.
The impending closures were first announced the department store chain’s CEO Marvin Ellison in January.
“For the record, I think that 1,014 stores for J.C. Penney is too many, because we haven’t made the necessary investments in our store fleet the way we should,” he said at the time. “It’s a simple question: If we have a location that I wouldn’t want my children to work at, or wouldn’t want my wife to shop at, then we’re going to invest capital and ask if it fits the brand standard.”
Ellison reaffirmed the closures in February, telling investors that they can expect to see around 140 stores close their doors in the next few months. He also announced the termination of two distribution centers. Around 5,000 workers across the country will be affected by the closures.
Read more about the closures at Philadelphia Business Journal by clicking here.