JCPenney Closing 2 West Michigan Stores [VIDEO]
Following in the steps of Macy's and Sears/Kmart, last month JCPenney announced it would be closing over 100 stores across the country.
Friday morning, JCPenney announced the 138 locations closing, including seven across the state, with two in West Michigan.
The JCPenney stores at Lakeview Square Mall in Battle Creek and at The Shops at Westshore Mall in Holland will be closing.
According to WZZM-13, liquidation sales are expected to begin by April 17, with the stores expected to close in June.
Other Michigan JCPenney stores to close are in Escanaba, Houghton, Kingsford, Midland, and Sault Ste. Marie
According to CNBC, JCPenney hopes to save $200 million a year by closing the 138 locations across the U.S.
Around 5,000 jobs will be affected. After Penny's initial announcement, the company said 6,000 employees would be offered the option to enter JCPenney’s Voluntary Early Retirement Program. Remaining affected employees were to be compensated with “separation benefits, which includes assistance identifying other employment opportunities and outplacement services such as resume writing and interview preparation.”
JCPenney CEO Marvin Ellison said in a statement in February,
"We believe closing stores will allow us to adjust our business to effectively compete against the growing threat of online retailers."