JCPenney Moves Forward With Closures of 140-Plus Stores as It Seeks to Exit Bankruptcy

J. C. Penney Company Inc. is moving forward with brick-and-mortar closures as it seeks to exit bankruptcy.

In a Thursday filing with the United States Bankruptcy Court for the Southern District of Texas, the beleaguered chain revealed that it is set to shutter 144 stores across the country. The locations are part of JCPenney’s plan to shut down 242 locations, announced five months ago in its Chapter 11 filing...
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RSK: Still, the jury is out whether Amazon will be taking a few stores to use as last mile delivery centers.

Ken Notes: J.C.Penney is trying to put together a REIT to pull money for operations out of the Brick and Mortar they own. Valuation will be very interesting here...