J.C. Penney closings:

Four Wisconsin sites included

J.C. Penney Co. releases a list of 138 department stores it plans to close, including four in Wisconsin.

J.C. Penney Co. on Friday released a list of 138 department stores it plans to close, including four in Wisconsin, as part of a previously announced plan to shrink its footprint as it grapples with industry challenges.

The Wisconsin stores to be closed are located at Pine Tree Mall in Marinette; Marshfield Mall in Marshfield; Richland Square Shopping Center in Richland Center; and Rapids Mall in Wisconsin Rapids.

The Plano, Texas-based company had estimated that it would close 130 to 140 locations.

Most stores will begin liquidation sales April 17 and close in June.

The retailer said Friday that the closings would displace 5,000 workers. Some will receive transfer opportunities, but some will not.

Penney will continue to operate nearly 900 stores.

“It became apparent to us that our footprint was too large,” Penney CEO Marvin Ellison told investors in February, and the closings will “allow us to raise the overall brand standard of J.C. Penney” and invest in remaining stores.

The move followed similar store-closing announcements by Macy’s and Sears.

The closings include nine stores in Texas, eight in Minnesota, seven in Illinois, seven in Michigan, seven in Pennsylvania and six in North Carolina.

Kay Plantes, an economist who is a business model expert, told the Journal Sentinel in October that Penney’s retail model was in jeopardy and was not sustainable.