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Senior Partner at law firm Kirkland & Ellis LLP Jonathan Henes joins Yahoo Finance’s Zack Guzman to break down the current outlook for bankruptcies amid the COVID-19 pandemic.
The long struggling department store JCPenney filed for bankruptcy on Friday, becoming the third major retailer following J.Crew and Neiman Marcus to restructure its debt as the coronavirus ...
2,500 – all stores in North America and Puerto Rico (2019) Filed February 2019 Emerged January 2020 (second bankruptcy) 700 (Latin and Central America, Caribbean, Southeast Asia, Middle East and India) [55] [56] Pier 1: 2020 Remaining 942 stores Filed February 2020 None [57] Neiman Marcus: 2020 6 Filed May 2020 37 [57] [58] [59] Tuesday ...
The chain filed for its second bankruptcy and liquidation on August 7, 2019, [12] closing the remaining 54 stores [13] with plans to auction its intellectual property. [14] ALDO filed for bankruptcy on May 7, 2020, citing repercussions related to the COVID-19 pandemic as to why. [15] The shoe chain emerged from bankruptcy two years later. [16]
JCPenney filed for Chapter 11 bankruptcy protection today and plans on permanently closing select locations.
In November, the U.S. Bankruptcy Court for the Southern District of Texas approved a purchase agreement in which substantially all of J.C. Penney’s retail and operating assets would be acquired ...
Penney OpCo LLC, doing business as JCPenney and often abbreviated JCP, is an American department store chain that operates 656 stores across 49 U.S. states and Puerto Rico. [3] [4] Departments inside JCPenney stores include Men's, Women's, Boys', Girls', Baby, Bedding, Home, Fine Jewelry, Shoes, Lingerie, JCPenney Salon, JCPenney Beauty, as well as leased departments such as Seattle's Best ...