TAMPA (WFLA/WGN) – J.C. Penney is reportedly getting ready to file for bankruptcy protection as soon as next week, according to CNBC, citing people familiar with the matter.
The retailer is the latest casualty of the pandemic. According to Business Insider, a nearly $4 billion dollar debt load, and competition online even before the pandemic, the retailer has struggled to stay afloat.
J.C. Penney has been in business for nearly 120 years.
There was no official comment from the company Friday.