Business

J.C. Penney files for bankruptcy

WHITE MARSH, MD—J.C. Penney filed for bankruptcy on Friday, as was predicted earlier this week. In a news release, the company announced that it had has entered into a restructuring support agreement (RSA) with lenders holding approximately 70% of J.C. Penney’s first lien debt to reduce the company’s outstanding indebtedness and strengthen its financial position. The RSA contemplates agreed-upon terms …


Business, Health

REPORT: J.C. Penney planning to file for bankruptcy

UPDATE: J.C. Penney has filed for bankruptcyJ.C. Penney has filed for bankruptcy… Original story below… ——— NOTTINGHAM, MD—A major U.S. retailer may be ready to fold in the wake of the COVID-19 pandemic. Reuters reports that J.C. Penney is preparing to file for bankruptcy protection as soon as this week with plans to permanently close about a quarter of its …


JCPenney to extend closures, furlough workers amid COVID-19 pandemic

NOTTINGHAM, MD—The response to the COVID-19 emergency continues to take its toll on the economy. JCPenney announced on Tuesday that it would extend the temporary closure of its stores and business offices. As a result of these store closures, the company will also temporarily furlough the majority of store hourly associates, beginning on April 2nd. Beginning on April 5, a …

Robberies reported at JCPenney, McDonald’s

Police are investigating two commercial robberies that took place over the Memorial Day weekend. At around 11 a.m. on Sunday, May 28, an individual stole clothing and threatened an employee at the JCPenney located in White Marsh Mall. After a brief search, the suspect was located and taken into police custody. At about 11:30 p.m. om Sunday, an armed man …