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Respected Contributor
Posts: 2,360
Registered: ‎03-14-2010

JC Penney to File for Bankruptcy

As early as next week.  In addition, they will permanently close 212 stores.  They were struggling with a 4 billion dollar debt even before the virus hit.  Another giant from my youth down.  Have to admit that I don't shop there much anymore.  The quality is not there for me, nor the styles.

Honored Contributor
Posts: 11,926
Registered: ‎03-15-2014

Re: JC Penney to File for Bankruptcy

Honored Contributor
Posts: 38,235
Registered: ‎03-12-2010

Re: JC Penney to File for Bankruptcy

The thought of JCP declaring bankruptcy and possibly not coming out on the other side gives me all kind of anxiety.  They are my go-to store and JCP and I will be recognizing the 40th anniversary of them being my go-to store later in the summer. 

 

As a tall young women straight out of high school who could not afford the few 'tall girl' store prices in local malls,  I discovered JCP offered beautiful and affordable clothing for tall women.

 

They clothed me during my entire career in health insurance.  I have furniture from them, cookware from them, window coverings from them. Honestly I'm a walking advertisement for JC Penney.

 

 

"The eyes of the future are looking back at us and they are praying for us to see beyond our own time"
Terry Tempest Williams
Honored Contributor
Posts: 38,235
Registered: ‎03-12-2010

Re: JC Penney to File for Bankruptcy

PS and by the way - I placed an order with them online this morning Woman Very Happy

"The eyes of the future are looking back at us and they are praying for us to see beyond our own time"
Terry Tempest Williams
Respected Contributor
Posts: 2,857
Registered: ‎03-28-2010

Re: JC Penney to File for Bankruptcy

This is sad news, though I'm not surprised.  I hope the JCP store in our mall doesn't close.  Our mall has been in a terrible way since before the pandemic.  Sears closed and so many stores left.  They've been struggling.  We also have a Macy's which I hear isn't doing too well either.  I hardly shop JCP and will admit when I did go to the mall, I hardly went into JCP.  However, I just order some drapes from them 2 days ago.  

Trusted Contributor
Posts: 1,318
Registered: ‎12-21-2010

Re: JC Penney to File for Bankruptcy

It is indeed very sad to see JC Penney having its doors shut permanently.

 

I do remember when I came to America like decaded and decades ago, I bought my first boots in a JC Penney store. Then, I went to Sears I recall, and also bought me a perfume called CIARA by Revlon if I am not mistaken.

 

I am sorry for JC Penney and Sears. Shopping back then was so realxing, the sales associates were indeed so lovely and eager to assist you with a true smile.

The Supreme Happiness Of Life Consists In The Conviction That One Is Loved.
I come from the beautiful and sunny Athens Greece
Respected Contributor
Posts: 4,341
Registered: ‎04-19-2010

Re: JC Penney to File for Bankruptcy

I will be sorry if our local Penneys closes.  Before COVID, it seemed to do pretty well, it was busy.  I will miss the Ana line in particular.


-- pro-aging --


Rochester, New York
Trusted Contributor
Posts: 1,471
Registered: ‎10-10-2019

Re: JC Penney to File for Bankruptcy

[ Edited ]

 

JC Penney was in financial trouble prior to the virus so it was just going to be a matter of time before they filed bankruptcy. Too many bad management decisions started their downfall years ago. Our JC Penney closed down about a year ago. Sears closed about 6 months ago.

 

Macy's is another company faltering because of bad management. Quite a few years ago they decided to "buy out" other department stores (Kaufmanns being one) and assume their debt. From then on it was down hill.

Honored Contributor
Posts: 33,074
Registered: ‎01-08-2011

Re: JC Penney to File for Bankruptcy

@Scooby Doo I'm not at all surprised.  I't amazing they stayed afloat this long.

 

About six years ago when I still worked for Belk, we were amazed at the few cars they had in their parking lot.  The couponing policy had changed from physical coupons to extra sale prices on the floor.  That went over like a lead balloon.  Consumers had been so coupon trained they couldn't transition.

 

Apparently, during the "no coupon" years, those customers found other vendors they were happy with and many stayed away when they reintroduced couponing.

 

Pennys never bounced back and it was sad to see.

Respected Contributor
Posts: 4,492
Registered: ‎03-10-2010

Re: JC Penney to File for Bankruptcy

As much as I know they were in financial trouble, I'd still hate to see them go. It's always sad when businesses fail, even if they've had a long ride.

 

I was clearing out old Bed Bath and Beyond coupons the other day, and thought of them, too...



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