All Things Business

JCPenney Declaring Bankruptcy; Possibly Closing One Quarter Of Stores

11 May , 2020  

By: 1812Blockhouse Staff

Reuters and other sources reported over the weekend that JCPenney is planning to declare bankruptcy and is considering closing 200 of its stores.

According to the Reuters article, which can be accessed here, the current woes of the retailer are tied to the coronavirus pandemic, although there were operating concerns before that.

JC Penney traces its origins back to 1902, when James Cash Penney opened his first store in Kemmerer, Wyoming. The chain rode the wave of suburban exodus in the 1960s and 1970s, opening large department stores as anchors to malls and major shopping centers.

There is no indication yet as to which stores will be closed, including the fate of the Richland Mall location; 1812Blockhouse will share that information once it is known.

Source: Wikipedia

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