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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 ...
Unlike those other aforementioned businesses, retail was in an apocalypse before the pandemic.
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 ...
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 2025) 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]
The luxury chain filed for Chapter 11 bankruptcy in the Southern Court of Texas in May 2020. [219] New York & Company shuttered all of its stores by late summer 2020 as a result of its parent company, RTW Retailwinds, filing for bankruptcy. [220] In October 2020, its remaining assets were sold to New York investment company Saadia Group. [221]
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.
Bankruptcy outlook as JCPenney files for Chapter 11 amid coronavirus. May 18, 2020 at 2:09 PM ...