CARY, N.C. -- JCPenney will be closing its doors at Cary Towne Center.

The announcement was made Thursday afternoon.

Officials say the closing is a result of locations not meeting "required financial targets or represent[ing] an opportunity to capitalize on a beneficial real estate asset."

They say remaining inventory will be sold over the next several months and final closing day is expected to be on May 3.

Employees who don't stay with the company will receive separation benefits and impacted others can participate in an on-site career training class.