Sheridan JCPenney among 138 store closures nationwide

Xavier Trudeau
Mars 20, 2017

The JCPenney at the Palisades Center will be shutting down as part of the company's plan to shutter 138 of its stores nationwide over the next few months.

JCPenney got its start in Kemmerer, Wyoming, in 1902. There are two local JCPenney stores; one in the Monmouth Mall in Eatontown and another in the Freehold Raceway Mall.

Most of the stores will begin their liquidation processes on April 17, according to a statement.

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

MORE | See the full list of closures here.

Friday's news comes less than a month after the retail chain announced it would close 130-140 positions to "align the Company's physical store footprint and omnichannel network". One in Lakeland Florida and the second in Buena California.

"We believe closing stores will allow us to adjust our business to effectively compete against the growing threat of online retailers", Marvin Ellison, chairman and chief executive officer of JCPenney said in a release.

Other reports by CampDesrEcrues

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