The company on Friday made public the list of store closures, including Corinth’s Southgate Plaza location on Cass Street. Others in Mississippi include mall locations in Columbus, Greenville and Meridian.
Most of the stores will begin the liquidation process on April 17, the company said, and most of the 5,000 affected jobs will end in June. The company is offering some employees relocation opportunities and is providing help such as resume writing and interview preparation. It is also offering a voluntary early retirement program for about 6,000 employees.
The company said the store closings allow it to adjust to effectively compete against the growing threat of online retailers with stores focused on “personalized beauty offerings, a broad array of special sizes, affordable private brands and quality home goods and services.”
The store closures represent less than 5 percent of total annual sales. In a news release the J.C. Penney Company said the closing stores “either require significant capital to achieve the company’s new brand standard or are minimally cash flow positive today relative to the company’s overall consolidated average.”
The company, with more than 1,000 store locations, is also closing a supply chain facility.