Nordstrom is entering a new era. The luxury department store announced major plans to go private following an approved $6 billion agreement with El Puerto de Liverpool, which has been an investor in the company since 2022.

The store in Peabody’s Northshore Mall will close on January 31 and the store in Braintree’s South Shore Plaza will close on March 8.

Department-store chain Nordstrom is laying off a total of 300 workers in Massachusetts as it plans to close two stores.

Luxury department store chain Nordstrom reported it will lay off 300 employees as it shutters two Massachusetts stores. The retailer will lay off 134 employees in closing its Peabody location and 166 in the closure of the Braintree storefront,