(WKBN) – JCPenney is considering closing hundreds of stores and filing for bankruptcy, Reuters is reporting.

According to Reuters, the decision could come next week.

As many as a quarter of its roughly 850 stores may be permanently closing, but JCPenney is also considering alternatives that include negotiating a deal with creditors outside of bankruptcy court or obtaining additional financing, sources told Reuters.

JCPenney didn’t release a comment in regard to Reuters’ report.