First there was Neiman Marcus, then J. Crew and now J.C. Penney has filed for bankruptcy.
The 118 year old department store filed on Friday and has a plan to turn things around, according to CNN. Although, that plan does include a number of store closures that haven’t been announced yet.
They cited the pandemic as the reason for the filing. But, they weren’t in the best position prior to this year and recently shuttered a number of stores.
