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JCP - Has the Coronavirus Pandemic Doomed J.C. Penney?
J.C. Penney Company Inc.
The global coronavirus pandemic has placed enormous pressure on even financially healthy businesses, but for ailing outfits like J.C. Penney(NYSE: JCP), the outbreak could be the kiss of death.
Sales were in a tailspin before the outbreak began forcing state and local governments to issue must-close orders to retailers, restaurants, and shopping malls to halt its spread. Now, with consumers self-isolating when they're not fighting for hand sanitizer and toilet paper, the huge debt load J.C. Penney carries looks like an even heavier burden.