Will Shreveport-Bossier Lose Another Big Retailer?
It seems like every few weeks we are getting news that another business is closing down in Shreveport-Bossier. Whether it be a local place or a national chain, some places just can’t survive in the area.
Now, another major retailer is saying they are closing down sites nationwide, and a store in Shreveport and one in Bossier could be on the chopping block. JC Penny has announced that they will be shutting down two distribution facilities and approximately 130 – 140 stores over the next few months. JC Penny says that it is an effort to “optimize its national retail operations as part of the Company’s successful return to profitability.”
Marvin R. Ellison, chairman and chief executive officer of JCPenney, says that some stores just aren’t meeting the model that the company has set forth for growth, so they will be closed, leaving bigger stores in larger markets to handle the majority of their sales and to “raise the overall brand standard of the Company and allocate capital more efficiently.”
“We understand that closing stores will impact the lives of many hard working associates, which is why we have decided to initiate a voluntary early retirement program for approximately 6,000 eligible associates. By coordinating the timing of these two events, we can expect to see a net increase in hiring as the number of full-time associates expected to take advantage of the early retirement incentive will far exceed the number of full-time positions affected by the store closures,” added Ellison.
Associates impacted by the store and distribution center closures will receive separation benefits, which includes assistance with employment opportunities and outplacement services such as resume writing and interview preparation.
JCPenney will release a full list of store closures by mid-March. Nearly all impacted stores are expected to close in the second quarter of 2017.