The talk and rumors having been brewing for weeks now, but that was recently put to an end when the powers that be at JC Penney announced they will be closing stores.

In January 2017, the Dallas News reported that CEO Marvin Ellison said there would be 'brick and mortar' stores closing in the near future. Ellison's announcement came on the heels of Macy's saying they would close 68 of their 730 stores.

Now, it is official. Recently Mr. Ellison stated that 130 to 140 of their 1,000 stores would be closed by the end of 2017. Even Walmart has been 'rolling back' their workforce as well.

But will that list include the JC Penney store in Presque Isle? We'll have to wait and see as no official closure list has been released as of today.

However, should the Presque Isle JC Penney store close, it will have some impact on the economy where jobs are concerned.

JC Penney was first opened by founder James Cash Penny, in Kemmerer, Wyoming after investing $2000 in 1902.