COLUMBUS, Ind. — As part of a continued effort to become profitable in a tough market, officials from J.C. Penney Company, Inc. have announced they will close the store in the FairOaks Mall in Columbus. The liquidation process is expected to begin by mid-April. The store closure is one 138 planned for this year.
The company will also close a distribution center in Lakeland, Florida, and sell a supply chain facility in Buena Vista, California. Company officials say the closures will impact at least 5,000 jobs. Eligible associates will receive outplacement support services.
“We believe closing stores will also allow us to adjust our business to effectively compete against the growing threat of online retailers. Maintaining a large store base gives us a competitive advantage in the evolving retail landscape since our physical stores are a destination for personalized beauty offerings, a broad array of special sizes, affordable private brands and quality home goods and services. It is essential to retain those locations that present the best expression of the JCPenney brand and function as a seamless extension of the omnichannel experience through online order fulfillment, same-day pick up, exchanges and returns,” said Marvin Ellison, CEO and chairman.
The company recorded a profit in 2016 for the first time since 2010. Officials say aggressive actions will continue to better align retail operations for sustainable growth.
