Jul 25, 2014
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JC Penney to Close Stores: Will Manassas Mall Location Remain?

Thirty-three stores could be shuttered. Is the Manassas location one of them?

JC Penney to Close Stores: Will Manassas Mall Location Remain?
JC Penney announced Wednesday that it is closing 33 "underperforming" stores and cutting 2,000 jobs as part of its turnaround efforts.

JC Penney is one of Manassas Mall's anchor stores and is not on the department store giant's chopping block.

Click here for the full list of store closings. . 

The closures and job cuts are expected to save the company about $65 million a year.

Remaining inventory in the affected stores will be sold over the next several months, with final closings expected to be complete by early May. 

"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," Myron E. (Mike) Ullman, III, chief executive officer of JC Penney said in a prepared statement.

"While it's always difficult to make a business decision that impacts our valued customers and associates, this important step addresses a strategic priority to improve the profitability of our stores and position JC Penney for future success."

This year, Macy's announced plans to shutter some stores of its own. Read: Macy's: Five Stores Closing 2,500 Laid Off 

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