Mid-market department store retailer JC Penney has outlined plans to close underperforming stores, wind down its catalogue and outlet operations and consolidate its call centres.

At the same time, the retailer announced that investor William Ackman will sit on the chain’s board. Ackman’s Pershing Square Capital Management along with Vornado have a 26% stake in JC Penney and have put pressure on chief executive Myron Ullman III to turn the retailer around to fight off competitors such as Macy’s and Kohl’s.