SALT LAKE CITY — The J.C. Penney Co. will shut down close to 140 stores this year, but none of those stores are in Utah.
According to CNBC, J.C. Penney Co. announced it's store closings on Friday, which comes just a few weeks after the company said it would close nearly 140 stores within the year.
None of Utah’s stores were included on the list, which was shared by USA Today.
Nearby Colorado, Idaho and Wyoming will see some stories closed. Here’s a list of nearby locations that will shutdown.
Fort Morgan Main St.: Fort Morgan
Glenwood Springs Mall: Glenwood Springs
St. Vrain Centre: Longmont
Broadway Plaza: Sterling
Snake River Plaza: Burley
Downtown Sheridan: Sheridan
Between Macy’s, Sears and Kmart all closing down stores, nearly 300 department stores will close down nationwide, CNBC reported.2 comments on this story
"We believe closing stores will allow us to adjust our business to effectively compete against the growing threat of online retailers," J.C. Penney CEO Marvin Ellison said in a statement in February, according to CNBC.
The shutdown will likely save the company $200 million, CNBC reported. The company has $4.3 billion debt that it hopes to erase.
The move will, however, affect more than 5,000 jobs, according to CNBC. But nearly 6,000 workers will get an opportunity for an early retirement program. Certain workers will also possibly be relocated.