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| Economy |
| J.C. Penney to file for bankruptcy as soon as next week |
| 2020-05-09 |
[PUBLISH.TWITTER]
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| Posted by:Fred |
| #13 The mail order catalog was a source of toilet paper for much of rural America. It was strange how the women's and men's underwear sections were the last to go. I suspect it was a conspiracy by Georgia Pacific that killed off the mail order catalogs to increase their toilet paper use. |
| Posted by: Thaith Elmeresing6163 2020-05-09 23:51 |
| #12 Big mall where I used to live just converted to a (non tribe) ca$ino just in time to be closed for COVID. |
| Posted by: M. Murcek 2020-05-09 10:08 |
| #11 I cannot recommend a shopping mall experience within 100 miles of Atlanta. |
| Posted by: Besoeker 2020-05-09 09:45 |
| #10 Oh yeah, the JCP sign has already been pulled from the freeway reader board |
| Posted by: USN, Ret. 2020-05-09 09:45 |
| #9 Reference #4: Skid, your comment about malls making great shooting galleries is hitting a bit too close: couple years ago a guy walked into Cascade Mall looking for his just-broke-up-with-him-ex-girlfriend, armed with a rifle. Couldn't find her so he opened fire anyway, killing several. Now my wife will not go to that mall and she is not alone: it is visibly dying. |
| Posted by: USN, Ret. 2020-05-09 09:43 |
| #7 With $4 billion in debt, I should think JCP's demise is not all Amazon's or Walmart's fault. |
| Posted by: Clem 2020-05-09 09:28 |
| #6 Reorg: J.C. Penney Co Inc (JCP.N) is preparing to file for bankruptcy protection as soon as next week with plans to permanently close about a quarter of its roughly 850 stores, becoming the latest major U.S. retailer to succumb to fallout from the coronavirus outbreak, according to people familiar with the matter. A bankruptcy filing would cap a long decline for the iconic 118-year-old department store chain, which struggled with a nearly $4-billion debt load and competition from e-commerce firms and discount brick-and-mortar retailers even before the pandemic’s onset. The Plano, Texas-based company, which employs nearly 85,000 people, is in discussions with creditors for a so-called debtor-in-possession loan to bolster its finances while it navigates bankruptcy proceedings, the sources said. The loan could total between $400 million and $500 million, some of the sources said. The timing of a bankruptcy filing could slip depending on how much time it gets from creditors, the sources said. J.C. Penney skipped a $17 million debt payment Thursday and only has five days to make good on it before defaulting. A 30-day grace period on a $12 million payment the company skipped April 15 ends next Friday. |
| Posted by: Frank G 2020-05-09 09:23 |
| #5 Rental car parking garages ? |
| Posted by: Besoeker 2020-05-09 09:12 |
| #4 Malls make great homeless housing and shooting galleries. |
| Posted by: Skidmark 2020-05-09 09:10 |
| #3 Boy, I would not want to be in the commercial real estate bidness right now. |
| Posted by: Clem 2020-05-09 09:06 |
| #2 I miss Monkey Ward's |
| Posted by: M. Murcek 2020-05-09 09:02 |
| #1 Sad. We grew up with their Christmas "wish" catalog. Fond memories. |
| Posted by: Woodrow 2020-05-09 01:56 |