Waterville’s J.C. Penney store will remain open following the company’s release Friday of a list of stores across the country it intends to close, which showed the one in Rockland to be the only one in Maine on the chopping block.

The national retailer is trimming nearly 140 stores from its portfolio.

In addition to Waterville’s store, other JC Penney stores in Maine staying open are the one in South Portland, one of the anchor stores at the Maine Mall; and those in Auburn, Bangor and Presque Isle.

Waterville’s JC Penney is a landmark store in the Elm Plaza, on upper Main Street near the exit 130 on-ramps to Interstate 95.

The 51,500-square-foot JC Penney store at Elm Plaza opened Sept. 5, 1984, according to Joseph Thomas, of JC Penney’s corporate communications and public relations office in Plano, Texas.

Friday morning, the retailer released its list of 138 stores that it intends to close as it seeks to increase revenue. The company said earlier this month it would close underperforming 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.

Comments are no longer available on this story

filed under: