JCPenney Closing 154 Stores This Summer


JC Penney Makes Overdue Loan Payment, Temporarily Staving Off Bankruptcy

JC Penney Makes Overdue Loan Payment, Temporarily Staving Off Bankruptcy

JCPenney is permanently closing 154 stores across 20 states this summer as part of its bankruptcy plan.None in Philly area

The company, one of the most high-profile retailers to file for bankruptcy protection after being hit hard by the coronavirus, said it expects store closing sales to last around three months, and it will announce additional closures in the coming weeks.

JCPenney filed for Chapter 11 bankruptcy on May 15. The pandemic's hit on sales was the final blow to a 118-year-old company struggling to overcome a mountain of debt. Trad more here>>>https://6abc.com/business/jcpenney-closing-154-stores-none-in-philly-area/6232732/

Source: 6abc

Photo: Getty

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