JC Penny is Filing for Bankruptcy
Multiple sources are reporting that the department store giant is filing Chapter 11 any day now. Before filing, the company is trying to reach resolution with their lenders to the time of 450 million dollars.
JC Penny has been in business for 118 years. More on the story here.
CNN Business is reporting that despite these proceedings, JC Penny is paying their top four executives their bonuses to the tune of one million dollars. CNN article is here.
Sign me up for the 94.7 WCSX email newsletter!
Stay connected to all things Classic Rock, join the WCSX Workforce- it’s free and you can win prizes, concert tickets and VIP experiences.
By clicking "Subscribe" I agree to the website's terms of Service and Privacy Policy. I understand I can unsubscribe at any time.