Sad Times for a Retail Icon!

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This week, J.C. Penney filed for bankruptcy protection after a prolonged decline over the past 20 years, becoming the latest and largest retailer to fall during the coronavirus pandemic, which has devastated the industry.

Questions:

  1. How many employees does this affect?
  2. When and where did the company start?
  3. How many stores does the company have and what are the plans for these stores?
  4. What was the name of the original store in Wyoming before it was renamed?
  5. What is going on with the stock price of the company?

Source:

Maheshwari, S. and M. Corkery. (2020). J.C. Penney, 118-Year-Old Department Store, Files for Bankruptcy. The New York Times, May 15 (Retrievable online at https://www.nytimes.com/2020/05/15/business/jc-penney-bankruptcy-coronavirus.html)