JCPenney Hair Salon is closing its doors after more than a decade in business, and it has announced that it’s laying off around 1,500 workers.
The move comes as a result of declining revenue, according to a statement released on Wednesday by JCPensons parent company, Sears Holdings.
JCPennials Hair Salon in the city of Sydney, which has been around for over 50 years, announced its closure on Wednesday.
The store is set to be replaced by an online salon.
The statement from the hair salon reads: “After more than 50 years of serving our loyal customer base, we are pleased to announce the closing of our store and the immediate closure of our online salon, starting with our new online salon.”
The closing of JCPersons Hair Salon comes as the company struggles with declining sales, which have slowed to a trickle in recent months.
Last month, it reported a net loss of $2.4 million in its fiscal year ended February 28, and was forced to shut down the remaining locations of its hair stylists.
“Our business is slowing and is dependent on continued growth in online sales and customer loyalty,” the statement said.
“Our sales and profit outlook have deteriorated due to declining online sales.”
However, the company said it would continue to offer salon services for customers and employees.
Jcpennials is closing down its online salon as well.
It will still be able to offer its salon services in the stores.
JCPensers online salon is expected to reopen by mid-October, with more details to be released in the coming weeks.