One of the biggest departmental stores chain in US JCPenney has announced the closure of as many as 130 to 140 locations in the next couple of months owing to declining sales.
The department-store chain hasn’t disclosed the list of store that will be closed down, however, the sales data identified the stores that are at risk of closing.
There are as many as 39 stores that have been identified as having weaker sales compared to the retail chain’s average.
The company’s sources have revealed that the stores that risk closure either require significant capital investment or have below-average sales.
