Coronavirus Coverage

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.

JCPenney is reportedly considering filing for bankruptcy and closing hundreds of stores

JCPenney is considering filing for bankruptcy, though no final decision has been made, Reuters reported Friday. It had temporarily closed all of its stores in response to the coronavirus pandemic in March. The department store chain has struggled in recent years. It has nearly $4 billion in debt.