The J.C. Penney store in Rockland is the only Maine location that will close as the retailer trims nearly 140 stores from its portfolio.

The store in South Portland, one of the anchor stores at the Maine Mall, will remain open, as will stores in Auburn, Waterville, Bangor and Presque Isle.

Friday morning the retailer released its list of 138 stores that it intends to close as it seeks to increase revenues. The company said earlier this month it would close under-performing stores to enhance profitability. The affected stores account for less than 5 percent of total sales, and J.C. Penney expects the closures will result in $200 million of annual cost savings.

The company said about 5,000 positions nationwide will be affected by the store closures, which are expected to occur in June. Outplacement services for employees who will be let go will be provided.

Most affected stores will begin liquidating inventory on April 17.


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