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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 ...
Unlike those other aforementioned businesses, retail was in an apocalypse before the pandemic.
Why Is JCPenney Closing More Stores? JCPenney filed for bankruptcy back in 2020. Since then, about 240 of its stores have closed. Right now, there’s about 650 locations left in the U.S.
A "handful" of JCPenney locations are soon to be closing, a company spokesperson said, adding to the retailer's long list of shuttered stores since it filed for bankruptcy in 2020.. The ...
Bankruptcy Open stores Source Borders Books: 2011 Closed all stores Liquidated None [42] The Bon-Ton: 2018 Remaining 267 locations liquidated Filed February 2018 None; last store closed October 2020 [43] [44] Sears Holdings: 2013–2021 1,380 Kmart and Sears stores Filed October 2018 Acquired out February 2019 9 (2024) [45] J. C. Penney: 2015 ...
The luxury chain filed for Chapter 11 bankruptcy in the Southern Court of Texas in May 2020. [225] New York & Company shuttered all of its stores by late summer 2020 as a result of its parent company, RTW Retailwinds, filing for bankruptcy. [226] In October 2020, its remaining assets were sold to New York investment company Saadia Group. [227]
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. [16] and its revenues reached $5 billion (equivalent to $38.8 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]