MoneyBusiness

Actions

Pandemic claims another retailer: 118-year-old J.C. Penney

JCPenney  store
Posted
and last updated

The coronavirus pandemic has pushed troubled department store chain J.C. Penney into Chapter 11 bankruptcy. It is the fourth major retailer to meet that fate. Texas-based Penney said late Friday it will be reducing its store count and will be disclosing details and timing in the next few weeks. It currently operates 850 stores and employs nearly 90,000 workers. It said that it received $900 million in financing to help it operate during the restructuring. Penney joins luxury department store chain Neiman Marcus, J.Crew and Stage Stores in filing for bankruptcy reorganization. Others are expected to follow. Still many experts are pessimistic about Penney’s long-term survival.

,

Weather

Daily Forecast

View Hourly Forecast

Day

Conditions

HI / LO

Precip

Friday

05/09/2025

Sunny

99° / 67°

0%

Saturday

05/10/2025

Sunny

102° / 66°

0%

Sunday

05/11/2025

Sunny

92° / 58°

0%

Monday

05/12/2025

Mostly Sunny

79° / 54°

0%

Tuesday

05/13/2025

Partly Cloudy

73° / 54°

12%

Wednesday

05/14/2025

Sunny

81° / 58°

1%

Thursday

05/15/2025

Sunny

87° / 61°

0%

Friday

05/16/2025

Mostly Sunny

89° / 62°

0%