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JCPenney Closing 242 Stores JCPenney Closing 242 Stores
JCPenney Closing 242 Stores JCPenney plans to permanently close 242 stores this year and next as it continues to reel from billions of dollars of debt, severe competitive disadvantages and the coronavirus pandemic. “Penney’s” cited COVID-19 when filing for bankruptcy late last week – the fourth national retailer to do so this month following J.Crew, Neiman Marcus and Stage Stores. "Until this pandemic struck, we had made significant progress rebuilding our company," CEO Jill Soltau said in a statement Friday. "Implementing this financial restructuring plan through a court-supervised process is the best path to ensure…

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by Jerry DeMarco