Correction: J.C. Penney closed its stores in Hixson and Dalton. The Cleveland store is open in the Bradley Square Mall.
J.C. Penney & Co. announced today that it will close 138 stores by June, including stores in Knoxville, Greeneville and Union City, Tenn.
J.C. Penney will keep its store open in Hamilton Place Mall in Chattanooga and at the Bradley Square Mall in Cleveland. But the retail giant said it is reducing operations and starting liquidation sales at the shuttered stores in April to help cut expenses "to advance sustainable growth and long-term profitability."
Over the past two years, J.C. Penney closed its stores in Hixson and Dalton, Ga.
The company continues to operate about 900 stores nationwide and had about 105,000 full and part-time employees last year.
Liquidation sales at the 138 stores to close this spring will start next month, and most of the stores will be shut by mid-June, the company said.
"We understand that closing stores will impact the lives of many hard working associates, which is why we have decided to initiate a voluntary early retirement program," Marvin R. Ellison, chairman and CEO of J.C. Penney, said in the initial announcement of the latest store closings last month.
The latest closings will cut about 5,000 jobs. J.C. Penney said it is in the process of identifying relocation opportunities within company for some of the affected employees and others will be provided outplacement support services.