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Declaring Chapter 11 bankruptcy after devastating sales losses to COVID-19 deepened its already existing troubles, department store chain J.C. Penney (NYSE: JCP) says it intends to close a greater number of stores than it originally meant to. The total permanent closures are now expected t...
On May 15th, 2020, JC Penney filed for voluntary bankruptcy (case 20-20182). On Saturday, May 16th, "first day hearings" were held with the purpose of ensuring that JC Penney ( JCP ) can continue to operate, protected from creditors, but also to begin the planning of the process of restructu...
Introduction The COVID-19 pandemic has caused what many describe as the worst economic downturn since the Great Depression. Despite the grim economic outlook, the “market” is attempting a V-shaped recovery that is surprising to many. An analysis of the main indexes shows ho...
The latest word from the J.C. Penney (NYSE: JCP ) bankruptcy is that the company plans to trim its store count by 29% to about 604 locations. More news on: J. C. Penney Company, Inc., Consumer stocks news, Read more ...
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J.C. Penney Company ( JCP ) finally filed for Ch.11 bankruptcy on May 15 in Texas. Under the Restructuring Support Agreement current JCP shareholders are getting nothing. May 15 was end of the 30-day grace period used after the company did not pay interest on some notes due April 15. Under the...
Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha , iTunes , Stitcher and Spotify . "The Fed hasn't run out of ammunition by a long shot," Jay Powell said in an interview last night on CBS's 60 Minutes . "There's ...
Image: My great-grandfather (second from left) and his buddies in the 88th Division of the United States Army during World War I, at the time of the Spanish flu pandemic of 1918-1919. He would serve under Major General William Weigel, become proficient in the 37mm gun, and take part in the...
Has Coronavirus Put The Final Nail In The Coffin Of These Penny Stocks? When it comes to penny stocks , you typically will hear the big success stories of traders making money by investing a small amount. But we can’t ignore the risks involved either. When it comes to certain companie...
J.C. Penney (NYSE: JCP ) received bankruptcy court approval of its "first day" motions , paving the way for continued operations as it looks to reorganize. More news on: J. C. Penney Company, Inc., Consumer stocks news, Read more ...
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L Brands (LB), Macy’s (M),JC Penney (JCP), and Ascena (ASNA) are struggling due to decreased foot traffic for retail stores. Unlike other retailers, they’ve been unable to make up for it with online sales. Certain retailers are facing a crisis due to the coronavirus. The ...
Simon Property Group (NYSE: SPG) doesn't have enough money to buy up all of the retailers that are going to close their doors this year. The shopping mall operator has been on a spending spree , buying up bankrupt retailers in an effort to keep them from closing down and leaving vacant sto...
As J.C. Penney (NYSE: JCP) continues to maneuver through the complexities of Chapter 11 bankruptcy and its efforts to streamline its operations back into a financially sound business, 136 of its stores, earmarked for closure, began liquidation sales today. At the same time, the few remaining...