by Bob Walsh
That venerable old brick-and-mortar retailer, J. C. Penny, has just filed for Chapter 11 due in large part to the Covid-19 pandemic. The 118 year old chain has a major debt due that they simply can't meet.
The company operates about 850 stores in the U. S., including one here in beautiful Stockton. They employ not quite 90,000 people in this country, a number that is certain to shrink substantially in the near future as they contemplate closing down about 1/4 of their locations. Their profits are down over 60 % due almost completely to temporary store closures.
I used to buy bedding and household small appliances there are all time. If they go away I will miss them.
1 comment:
They used to sell a nice Navy Blazer. I've had a few of them. I hope our Penny's survives.
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