JCPenney’s Bankruptcy Could Be Just Days Away
JCPenney has missed two debt payments this month, with the grace periods for each expiring later this week. In the mean time, the department store retailer is only able to reopen a small fraction of its stores. All this casts its future in considerable doubt. While JCPenney has not commented on whether it is planning to file for bankruptcy this week, industry experts are predicting it will do just that.
JCPenney’s fate is clearly in the hands of its lenders.