J.C. Penney reportedly plans to file for bankruptcy, and it could happen as soon as today.
The Plano-based retailer’s advisors say negotiations between the company and its lenders may still last into the weekend and delay the bankruptcy filing.
J.C. Penney had about 90-thousand full-time and part-time employees in almost 850 department stores as of February.
It’s working on a plan that could close up to 200 stores while in bankruptcy.
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