j c penney

Retail
J.C. Penney Laying Off 1,000 Workers

As the company aligns its workforce with its store optimization strategy and reduced store footprint, J.C. Penney is reducing its workforce by about 1,000 corporate, field management and international positions.

Retail
J.C. Penney Slates 13 More Store Closures

J.C. Penney has taken the next step in implementing its store optimization strategy, adding 13 store closures as part of its second phase, pending court approval. Store sales are expected to begin on or around July 3.

Retail
J.C. Penney Begins Store Closing Sales

A team of disposition firms consisting of Gordon Brothers, Hilco Merchant Resources, Great American Group and Tiger Group have commenced store closing sales at 137 J.C. Penney stores across the U.S. The closures are the company’s first step in implementing a planned store optimization strategy.

Retail
J.C. Penney To Close 154 Stores

Following a comprehensive evaluation of its retail footprint and a careful analysis of store performance and future strategic fit for the company, J.C. Penney identified the first phase of 154 store closures.

Retail
J.C. Penney: Company Must Emerge From Chapter 11 Quickly

J.C. Penney stated in a bankruptcy court document that it must emerge from Chapter 11 quickly in preparation for the 2020 holiday season, shortly after announcing that it had received approvals from the U.S. Bankruptcy Court for the Southern District of Texas regarding First Day motions related to the company’s voluntary Chapter 11 petitions, including approval for it to access and use its approximately $500 million in cash collateral.

Retail
Report: J.C. Penney Moves Closer To Bankruptcy Funding

With the coronavirus pandemic shutting down non-essential shopping across the U.S., J.C. Penney is said to be in advanced talks with bank lenders for a bankruptcy loan as large as $1 billion to carry it through a potential chapter 11 process, The Wall Street Journal reported.

Retail
J.C. Penney Appoints Walsh Chief Digital Officer

J.C. Penney has appointed Karl Walsh, an executive with more than 18 years of e-commerce experience, as senior vice president, chief digital officer, to lead strategic advancements of the company’s digital platforms, most notably in its flagship store jcp.com.

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