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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 ...
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 ...
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 brand had 150 stores at its peak, predominantly on the West Coast. Anchor Blue declared bankruptcy in 2009 and shuttered more than 50 stores, and gradually shrank to include stores solely in California. It went bankrupt once more in 2011, with the remaining stores closed before Easter of that year. [48]
That year, the company adopted the JCPenney style in advertising. [16] and its revenues reached $5 billion (equivalent to $37.6 billion in 2025) for the first time and catalog business made a profit for the first time. [17] JCPenney reached its peak number of stores in 1973, with 2,053 stores, 300 of which were full-line establishments. [17]
Video. Follow Us. Bankruptcy outlook as JCPenney files for Chapter 11 amid coronavirus. May 18, 2020 at 2:09 PM ...
The luxury chain filed for Chapter 11 bankruptcy in the Southern Court of Texas in May 2020. [220] New York & Company shuttered all of its stores by late summer 2020 as a result of its parent company, RTW Retailwinds, filing for bankruptcy. [221] In October 2020, its remaining assets were sold to New York investment company Saadia Group. [222]
More store closings have been announced for JCPenney, including a Mississippi and Texas store. The department store chain has closed 174 stores. JCPenney closing more stores after bankruptcy.