J C Penney Filing Bankruptcy

elated · ‎06-09-2010

I just read that they are filing bankruptcy and closing 200 stores. They are currently $4 billion in debt. The report says the company is working to secure a loan between $400 and $500 million. The report came a day after the company missed a $17 million debt payment while it also missed a $12 million debt payment on April 15th, on which they had 30 days to make good. There are also some other large payments coming soon with a $105 million debt payment in June along with $300 million in interest expenses.

The filing come with plans to close a quarter of their near 850 stores.

Foxxee · ‎10-03-2014

Another old retailer in trouble. Opened 1902.

Nothing from Sears yet, but I expect it again. Opened 1820.

Tinkrbl44 · ‎08-23-2010

Wow .... well, let's hope they can survive in spite of these actions.

Nataliesgramma · ‎03-28-2015

I thought something was up. I tried to buy a couple rugs online and they were out of most colors in any I picked.

godi · ‎03-09-2010

This is so sad! They pulled themselves out of bankruptcy and started to make profits. So sad this is happening. I really dislike seeing all these great brick and mortar stores I grew up with closing and declaring bankruptcy.

Mindy D · ‎05-23-2010

I am so sad to hear this. I will order from them. One thing I noticed is that most of the online reviews are from older people. Maybe they need to bring in younger people online. They will have to strategize to come out of this.

ValuSkr · ‎03-15-2014

Theirs has been a very long and protracted death. Since the JCP store near me closed 5-10 years ago, I don't even think about them. The closest stores remaining are 45 minutes to an hour away and there's no way I'd do that for the "JCP experience."

Spurt · ‎03-20-2010

JCP has made some horrible decisions---they were in trouble and hired that Executive from Apple and he almost killed the company right then and there....he was fired they brought in someon else and they have been struggling to re-gain momentum....

There is a very busy large shopping center and their store became just a shell of what it used to be 2 years ago. They've whittled down their merchandise..Very little in their Home Department these days. They have the best curtain and drapes in retail, and their clothes are reasonably priced too, but the bad decisions continue to haunt them. And this pandemic certainly didnt help them at all.....very sad!!!!

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Puppy Lips · ‎05-09-2010

I used to work for JC Penney, soon after I graduated from college. I did not stay there too long before I moved on, but I really liked the store and the company. I have not shopped there in a long tme. They had great towels and bedding. The one in the mall closest to us here in FL closed years ago. I used to get my boys' photos taken there all the time, back in Ohio. I can not imagine any bank wanting to give them a loan.

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