Search results
Results from the WOW.Com Content Network
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 ...
For premium support please call: 800-290-4726 more ways to reach us
The 118-year-old department store JCPenney is the latest to file for bankruptcy protection amid the coronavirus pandemic. The Texas based retailer has accrued nearly $4 billion in debt and will ...
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]
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 ...
That year, the company adopted the JCPenney style in advertising. [14] and its revenues reached $5 billion (equivalent to $37.6 billion in 2024) for the first time and catalog business made a profit for the first time. [15] JCPenney reached its peak number of stores in 1973, with 2,053 stores, 300 of which were full-line establishments. [15]
JCPenney filed for Chapter 11 bankruptcy protection today and plans on permanently closing select locations.
A number of major airlines have declared bankruptcy and have either ceased operations, or reorganized under bankruptcy protection. Airlines, like any business, are susceptible to market fluctuations and economic difficulties. The economic structure of the airline industry may contribute to airline bankruptcies as well.