JCPenney to close two Virginia stores
Retailer JCPenney plans to close two stores in Virginia as part of a cost-cutting planning announced last week.
The stories are in the Manassas Mall in Manassas and The Marquis shopping center in Williamsburg.
In a Security and Exchange Commission filing on Thursday, the Plano, Texas-based company said it will close nearly 40 underperforming stores around the country by April.
The closings are expected to eliminate about 2,250 jobs.
The company is expected to incur pre-tax charges of about $21 million in the fourth quarter and $17 million in future periods in connection with the closings.