Retailer to close 45 stores, restructure
Thursday, Feb. 24, 2000 | 11:10 a.m.
J.C. Penney Co. Inc. of Plano, Texas, one of America's largest department store chains, plans to close up to 45 of its 1,150 department stores nationwide by July 1 as part of a $530 million restructuring program.
But the company hasn't decided whether any of its three Las Vegas stores, which employ a total of 750 people, will be closed.
The company is making asset writedowns and closing underperforming stores to reduce operating costs and overhead and to consolidate company functions.
"Forty to 45 stores will be closed nationwide because they didn't meet our criteria on financial and strategic matters. However, the process of identifying the specific stores is not yet finalized, and we expect to make a final announcement identifying the stores in the next two to three weeks," said Stephanie Brown, a J.C. Penney spokeswoman.
"Generally, we open and close stores every year as a normal course of business. If there are layoffs, we will work with those associates to place them in either other J.C. Penney facilities, units or operations in that community," Brown said.
archive
- Most Read
- Discussed
- Most E-mailed
- Trial delayed for man accused of shooting 3 officers
- Kruger hoping his team will play with grit
- Ten minutes with Chelsea Handler is better than no minutes with Chelsea Handler
- Pricing out wagers on the Pacquiao-Cotto fight
- RTC bus driver fired, arrested after allegedly attacking woman
- Two second-graders involved in shooting at bus stop
- CityCenter Realtors hit with cut in commissions
- Privé owner files for bankruptcy protection in Florida
- Shanghai’s maglev: Flying with both feet on the ground
- Trainers scuffle at Manny Pacquiao, Miguel Cotto weigh-in
Blogs
The Greene Room
Predicting this weekend's Mountain West football slate
Top Chef: Las Vegas
Top Chef Episode 11: Child's play
Miech Again
UNLV prez Smatresk is ready for some basketball (5 Comments)
Politics: The Early Line
Harry Reid's fourth TV ad begins running today
The Greene Room
Chad Ochocinco vs. Anderson Silva? That would be a sight ... (4 Comments)
Top Chef: Las Vegas
The Jet Stream: The three stages of chefdom
Miech Again
Rebels rookie Lopez says redshirting is his best move (12 Comments)
Calendar »
- 14 Sat
- 15 Sun
- 16 Mon
- 17 Tue
- 18 Wed
-
Pacquiao vs. Cotto at the MGM Grand Garden Arena
MGM Grand Garden Arena | 6 p.m. to 11 p.m.
-
Friends of India Diwali Celebration at Cashman Field with Dan Nainan
Cashman Field | 7:30 p.m. to 10 p.m.
-
Norm MacDonald at the House of Blues
House of Blues
-
Boulder City Art Guild Winter Fest Fine Art Show
Boulder City Parks & Recreation
-
John Fogerty at the Star of the Desert Arena
Star of the Desert Arena | 8 p.m. to 11 p.m.
-
Emeril Lagasse Foundation’s 5th annual Carnivale du Vin
The Venetian Resort Hotel Casino | 6 p.m. to 10 p.m.
The Sun
Locally owned and independent for more than 50 years.
Technorati








