J.C. Penney to File for Bankruptcy as Soon as Next Week, Sources Say

Reuters, May 8, 2020–Mike Spector, Jessica DiNapoli
J.C. Penney Co Inc is preparing to file for bankruptcy protection as soon as next week with plans to permanently close about a quarter of its roughly 850 stores, becoming the latest major U.S. retailer to succumb to fallout from the coronavirus outbreak.