JCPenney to close up to 140 stores

JCPenney plans to shut down as many as 140 stores in the next few months, the retailer announced.

According to CNN, the department store chain did not disclose how many jobs would be cut, but it said it is also offering early retirement to 6,000 full-time employees.

The company said it expects a net increase in hiring, even counting the job cuts from closed stores.
The store closings are expected to start by the end of June, and the locations will be revealed by March. This Google map shows several locations in the Houston area.

CNN reports that JCPenney will also close two distribution centers. It had 105,000 employees manning 1,021 stores as of a year ago.

JCPenney joins a list of retailers that have scaled back by closing several locations. This includes Sears and Kmart brands, The Limited, American Apparel, Sports Authority and Macy's.

SEE ALSO: Macy's to close 3 Houston-area stores, 68 nationwide

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