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J.C. Penney to permanently shut about 242 stores as part of bankruptcy plan

FILE PHOTO: Shoppers leave the J.C. Penney department store in North Riverside
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(Reuters) - J.C. Penney Co Inc plans to trim its store count by 29% to about 604, as the U.S. department store chain looks to focus on those more profitable, a regulatory filing showed on Monday, two days after it filed for bankruptcy protection.The stores to stay open accounted for 82% of the company's fiscal 2019 sales, J.C. Penney said. Reuters on Friday reported that the company was planning..
Date Published: May 18, 2020
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