(LEX 18) — J.C. Penney says it will cut about 1,000 jobs and close 152 stores as the department store chain looks to emerge from Chapter 11 protection and the COVID-19 crisis.
The layoffs would affect corporate, field management, and international roles. Eligible departing employees would receive a severance package.
The company is also in talks with its landlords regarding store closures.
Six Kentucky stores are closing:
- Campbellsville: Green River Plaza, 399 Campbellsville Bypass
- Danville: Danville Manor Shopping Center, 1560 Hustonville Road
- Hopkinsville: Bradford Square, 4000 Fort Campbell Blvd.
- Maysville: Market Square, U.S. 68 S and AA Highway
- Middlesboro: Middlesboro Mall, 905 N 12th St.
- Owensboro: Town Square Mall, 5000 Frederica St.
J.C. Penney operated 850 stores in the U.S. and Puerto Rico prior to filing for bankruptcy.
Its annual sales have plunged in recent years and its revenue has dropped more than 40% since 2007.