JC Penney files for bankruptcy protection

JC Penney filed for bankruptcy protection with plans to permanently close some stores and also explore a possible sale. The department store chain has said it reached an agreement with existing lenders for $900 million of debtor-in-possession financing to aid operations while it navigates bankruptcy proceedings. Even before the COVID-19 outbreak, the chain was struggling with nearly $4B of debt.

KCooper

Don’t Blame The Pandemic: JCPenney Goes Bankrupt After Decades-Long Struggle To Reinvent Itself

CENTERwww.forbes.com

JCPenney files for bankruptcy protection amid coronavirus woes

RIGHTnypost.com

JC Penney Shares Halted As Bankruptcy Filing Looms

INDEPENDENTwww.zerohedge.com

Wholly 6 months

They hadn't already? We all knew it was only a matter of time. The little global problem certainly couldn't have helped them.

User Inactive 6 months

Another one for the pile. Adapt, evolve, or perish. 🤷‍♂️

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JC Penney files for bankruptcy protection

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