MILWAUKEE (WITI) -- J.C. Penney Company, Inc. announced on Wednesday, January 15th that it will be closing 33 under-performing stores across the country. Five of those stores are in Wisconsin -- although none of them are in the metro Milwaukee area.
Here are the affected locations:
These actions are expected to result in an annual cost savings of approximately $65 million, beginning in 2014.
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 closings will result in the elimination of approximately 2,000 positions. Eligible associates who do not remain with the JCP will receive separation benefits packages.