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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 ...
On Tuesday, J.C. Penney issued a press release stating that comparable-store sales for the troubled department store operator rose approximately 2% last quarter. That marks the company's first ...
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 ...
Exterior of the JCPenney store at the Stonebriar Centre in Frisco, Texas (2013) JCPenney headquarters in Plano, Texas (2014) In 2010, Vornado Realty Trust acquired a 9.9% stake in JCPenney but sold it in 2013 for $13.00 per share. [37] On January 24, 2011, JCPenney shut down its catalog business and 19 outlet stores. [38]
Another factor is an over-supply of malls [24] as the growth rate of malls in North America between 1970 and 2015 was over twice the growth rate of the population. In 2004, Malcolm Gladwell wrote that investment in malls was artificially accelerated when the United States Congress introduced accelerated depreciation into the tax code in 1954 ...
The JCPenney mother store in Kemmerer, Wyoming. In 1898, Penney began working for a small chain of stores in the Western United States, called the Golden Rule stores.In 1902, owners Guy Johnson and Thomas Callahan, impressed by his work ethic and salesmanship, offered him a one-third partnership in a new store he would open.
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, [13] closing the remaining 54 stores [14] with plans to auction its intellectual property. [15] ALDO filed for bankruptcy on May 7, 2020, citing repercussions related to the COVID-19 pandemic as to why. [16] The shoe chain emerged from bankruptcy two years later. [17]