Struggling J. C. Penney (NYSE: JCP) To File Bankruptcy
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Ongoing, First published Dec 27, 2017
bankruptcyjcpjcpenney
December 27, 2017

Struggling retailer J. C. Penney (NYSE: JCP) is expected to file Chapter 11 bankruptcy as 

early as this week according to a source close to the matter. The source states JCPenney 

has hired bankruptcy lawyers to proceed with the filing. Also noted, same store sales and 

online traffic has sharply decreased year over year, with this seasons holiday sales 

falling "nearly 11%"  below expectations. The decline has resulted in deep discounts as a 

desperate attempt to move inventory. Losses have accumulated to the point where debt has 

overwhelmed the Plano, Texas based retailer, and restructuring is now a must. "It's really 

terrible. The damage is beyond repair, so it's really no other choice." the source 

remarks. Reporting a loss in 16 of the company's last 20 quarterly earning reports, J. C. 

Penney's business has been going downhill for years. Currently trading at $3.31 per share, 

JCP stock is down over 60% so far in 2017.
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