JCPenney Is Looking To File For Bankruptcy
Wochit Business
2020-04-17
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Business Insider reports that JCPenney is reportedly considering filing for bankruptcy protection.
The bankruptcy comes as US retail sales hit a record-breaking low.
Retail sales dropped a whopping 8.7% from February to March according to the Commerce Department.
Coronavirus lockdown has ravaged the retail industry.
Analysts expect that more retailers will go bankrupt before the pandemic ends.
The bankruptcy comes as US retail sales hit a record-breaking low.
Retail sales dropped a whopping 8.7% from February to March according to the Commerce Department.
Coronavirus lockdown has ravaged the retail industry.
Analysts expect that more retailers will go bankrupt before the pandemic ends.
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