J.C. Penney considering bankruptcy as coronavirus hurts department stores, report says [USA TODAY]
JC PENNEY (JCP)
Last jc penney earnings: 2/27 07:30 am
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Source: USA TODAY
CLOSERetailers report a 50% revenue impact amid coronavirus.Buzz60CONNECTTWEETLINKEDINEMAILMOREJ.C. Penney is said to be considering filing for bankruptcy protection as the retailer grapples with the immediate fallout from the coronavirus pandemic andits own long-in-the-making strugglesReutersreported TuesdayWith all of its stores temporarily closed due to the coronavirus, J.C. Penney is bleeding cash while it awaits the chance to get back on its feet.The company has been ailing for years as consumers began losing interest in department stores and malls. One of its biggest rivals, Sears, filed for Chapter 11 bankruptcy protection in October 2018 and narrowly escaped liquidation.USA TODAY on Tuesday listed J.C. Penney among10 retailers that are fighting to stay alive“Before the coronavirus, I thought there was going to be some hope for J.C. Penney,” Camilla Yanushevsky, a retail stock analyst for CFRA Re, told USA TODAY for that report. “It did look like they had some good ideas brewin
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