The JC Penney Outlet store in Martinsville has new owners and will soon have a new name.
JC Penney announced last year that was closing its 19 outlets including the store at Liberty Fair Mall as part of cost-cutting measures. But then last fall, SB Capital Group LLC, a Columbus, Ohio based company with holdings in the retail stores and malls, bought the Martinsville outlet and 14 others.
That news was not widely reported, and so many customers believe the Martinsville store is still closing, according to a SB Capital Group spokeswoman.
The store, which opened in 1999 and employes 35 people, will remain open, but will be rebranded under the name JC’s 5 Star Outlet.
The store will continue to carry JC Penney’s overstock and end-of-the-season merchandise.