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

(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 to shutter roughly 200 stores.J.C. Penney, which is looking to cut costs to remain afloat, plans to..