JC Penney files for bankruptcy protection

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
KCooper
Wholly
Wholly 1 weeks

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

MoralKombat
MoralKombat 1 weeks

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

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