JCPenney Likely to File for Bankruptcy This Week.
Sad, but expected news, JCPenney is considering filing for bankruptcy, possible as early as this week. This would lead to over 850 stores being permanently closed as the company is…
(Photo by Drew Angerer/Getty Images)
Sad, but expected news, JCPenney is considering filing for bankruptcy, possible as early as this week.
This would lead to over 850 stores being permanently closed as the company is in debt by $4 billion. They missed a debt payment on April 15th and the 30 day grace period expires on Friday.
Most of their stores remained closed throughout the US because of the coronavirus outbreak, and have been since March.
Even when the stores are open, they don't seem very busy.
Diana BeasleyEditor
