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Bankrupt J.C. Penney plans to permanently shutter 154 stores across the U.S., with going-out-of-business sales set to begin at those locations on June 12.
After filing for bankruptcy in May 2020 amid the pandemic, JCPenney is closing more stores. Initially having nearly 850 stores, the company shuttered over 200 and restructured its debt before being acquired by Brookfield Asset Management and Simon Property Group for $800 million.
JCPenney, which emerged from bankruptcy in 2020, is spending more than $1 billion by 2025 to remodel stores, upgrade online shopping and delivery. The retailer is focusing on its core...
Bankrupt J.C. Penney plans to permanently shutter 154 stores across the U.S., with going-out-of-business sales set to begin at those locations on June 12. The 118-year-old retailer plans to close a total of 242 locations by the fall.
A stalwart of twentieth-century retail for middle-class Americans seeking affordable clothing and home furnishings, JCPenney has struggled for more than a decade and fell into bankruptcy shortly...
JCPenney announced it will spend more than $1 billion by 2025 to remodel stores, improve online shopping and delivery, and focus on affordable fashion and housewares. The retailer, which...
JCPenney filed for bankruptcy in May 2020 and emerged from it after seven months of reorganization. The company is still in business, trying to reinvent itself with new merchandise initiatives...
JCPenney has survived world wars, the Great Depression, the Great Recession and the rise of both big box and online rivals. But surviving the Covid-19 pandemic is very much in doubt.
JCPenney got final approval on its plans to emerge from bankruptcy just last week on the eve of the all-crucial holiday shopping season, thanks to a rescue by mall owners Simon Property Group and...
Now a 663 store retailer, JC Penney emerged from Chapter 11 bankruptcy protection in February 2021 after completing the sale of its retail and operating assets to mall real estate giants Simon...