Tag: department

JC Penney: Landlords plot rescue for department store

Image copyright Reuters Image caption The company filed for chapter 11 bankruptcy in May Two of America’s biggest shopping mall owners have agreed to take on JC Penney’s retail operations to save the department store from closing. Simon Property Group and Brookfield Property Partners said they would keep the majority of JC Penney’s stores open, potentially saving 70,000 jobs. JC… Read more →

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JC Penney: US department store files for bankruptcy

Image copyright Reuters Image caption The company filed for chapter 11 bankruptcy on Friday American department store JC Penney has filed for bankruptcy becoming the latest company to be hit by Covid-19. The 118-year-old store sells clothing, cosmetics and jewellery at over 850 locations across the country. It employs more than 80,000 people. It filed for Chapter 11 bankruptcy on… Read more →