Report: JCPenney considering filing for bankruptcy, closing hundreds of stores

National and World

As many as a quarter of its roughly 850 stores may be permanently closing, but JCPenney is also considering alternatives, according to a report from Reuters

JC Penney department store, Pembroke Pines, Florida, graphic element on gray

The Associated Press

(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.

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