JC Penney Files For Bankruptcy
Written by DJ Sight on May 19, 2020
One of America’s favorite retail stores filed for bankruptcy. JC Penney records showed the retail store was already struggling for years and the Coronavirus pandemic just added fuel to the fire.
JC Penney plans to close up to 840 stores nationwide as a part of their turnaround plan to get things back on track. The retail giant had to borrow $450 million dollars from it’s leanders.
With the way Amazon has been operating during the Coronavirus pandemic there’s no way JC Penney can keep up.
