J. C. Penney

Business • Economy
JC Penney files for bankruptcy
JC Penney logo on Buckland Hills Mall in Manchester, Connecticut.
JC Penney logo on Buckland Hills Mall in Manchester, Connecticut. Credit: JJBers / CC BY-SA (Creative Commons Attribution ShareAlike 4.0)

JC Penney, American department store chain, has filed for bankruptcy protection and is said to close some of its stores. The company currently has over 800 stores and around 85,000 employees. JC Penney is the third big retailer, after Neiman Marcus and J.Crew, to declare bankruptcy amid the Covid-19 pandemic.