Mar 17, 2017 at 10:08 am
ST. CLOUD, Minn. (KNSI) - The JCPenney at Crossroads Center Mall in St. Cloud won't be one of the eight stores to be closed in the state.
JCPenney's announced they are closing their stores in Baxter, Fairmont, Faribault, Hibbing, Hutchinson, Red Wing, Thief River Falls and Winona.
JCPenney said Friday the liquidation sales at most of the affected stores will begin on April 17.
The company will close 138 stores nationwide.
About 5,000 positions will be eliminated nationwide as part of the store closings in June.
The closures represent about 14 percent of the company’s stores.
Last month JCPenney said it would close about 130 to 140 stores last, but it didn’t identify which stores until Friday.
The retailer said the stores that are closing either require a lot of investment to reach the company’s new standards or are barely making money.
Last week the location at Crossroads Center Mall and the store in Edina was on Morningstar Credit Rating's list of dozens of stores it believed were most likely to close.
The St. Cloud Macy's avoided being closed in January. Last year Macy's announced they were closing 68 stores nationwide.
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