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JCP - J.C. Penney: Store Closures Are Likely To Be Prolonged
J.C. Penney Company Inc.
The best-case scenarios for J.C. Penney (JCP) appear to be out of reach now with its store closures and the acceleration of testing revealing more of the extent of the Coronavirus issue in the United States. It will probably take at least a month for J.C. Penney's stores to re-open now, and there is a significant risk that it doesn't repay its relatively modest $105 million June 2020 debt maturity. Whether it files for bankruptcy by then or decides to try to continue on through the holiday season will likely depend on how