Business Bit: J.C. Penney in Sterling survives company closures

STERLING – When struggling department-store operator J.C. Penney announced Wednesday that it will close 33 stores, the store in Northland Mall was not on that list. In fact, J.C. Penney will close only two Illinois stores – in Bloomingdale and Forsyth.

The closures will result in the cut of 2,000 jobs and should save more than $65 million annually, the Associated Press reported. Penney has 116,000 staffers and operates more than 1,100 stores.