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March 18, 2017

J.C. Penney closing three Philadelphia-area stores; 5,000 jobs affected nationwide

J.C. Penney will be shutting down more 130 U.S. stores, including three in the Philadelphia region.

On Friday, the retail chain announced approximately 5,000 jobs would be affected after warning last month that closures were coming in an attempt to adapt to changing shopping patterns.

The Texas-based company will shutter locations at Philadelphia Mills in Northeast Philly and King of Prussia Mall and Willow Grove Park in Montgomery County. In New Jersey, a store in the Rio Grande Plaza down the shore will also close. The liquidation process will begin on April 17, but most stores will cease operations in June.

The closures leave four stores in the area: Montgomery Mall, Oxford Valley Mall, Deptford Mall and Cherry Hill Mall.

The move is "part of a continuing effort to advance sustainable growth and long-term profitability," the company said.

A supply chain facility in Florida will also close while a California location will be relocated.

The company posted a profit for the first time since 2010, but claimed the closures were necessary to compete against online retailers.

Founded in 1902, the business is one of the nation's largest apparel and home furnishings seller.