MARQUETTE, MI-- JC Penney is closing its Marquette store.
The retailer announced Wednesday that it will shutter 33 of its under-performing stores across the country as part of its turnaround efforts. The company expects to save about $65 million annually through the move. Around 2,000 positions will be eliminated.
Officials say inventory in the affected stores will be sold over the next several months, with final closings expected in early May.
JC Penney CEO Mike Ullman says, “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.”
