J.C. Penney to close 242 stores in bankruptcy restructuring

Department store J.C. Penney announced Monday it plans to close 242 stores across the country as part of its bankruptcy restructuring. The 118-year-old company filed for bankruptcy Friday. The stores to be closed comprise about 30 percent of J.C. Penney locations and will leave it with just over 600 stores nationwide, according to the New York Times. While the coronavirus pandemic and resulting retailer closures likely factored into J.C. Penney’s bankruptcy, the company was in

source https://therealdeal.com/2020/05/18/j-c-penney-to-close-242-stores-in-bankruptcy-restructuring/