JCPenney to close Marinette store

MGN/Mike Mozart/cc by 2.0

MARINETTE, Wis. (WBAY) - JCPenney has released a list of 138 stores that will close in the coming weeks.

The list includes four JCPenney stores in Wisconsin:

Pine Tree Mall - Marinette
Marshfield Mall - Marshfield
Richland Square Shopping Center - Richland Center
Rapids Mall - Wisconsin Rapids

The retail chain is also closing several stores in Michigan's Upper Peninsula, including Escanaba, Houghton, and Kingsford.

JCPenney says most of the impacted stores will begin liquidation on April 17.

In February, JCPenney announced plans to "optimize its national retail operations."

“We believe closing stores will also allow us to adjust our business to effectively compete against the growing threat of online retailers," reads a statement from Marvin R. Ellison, chairman and CEO of JCPenney.

JCPenney said closing the affected stores would result in savings of $200 million.

The company says associates will receive separation benefits, including help looking for other jobs.

Some will be eligible for early retirement.

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