J.C. Penney Files for Bankruptcy Protection — ChainStoreAge.com

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J.C. Penney has filed for bankruptcy protection and will be closing stores:

“Penney said it will reduce its store footprint ‘to better align its business with the current operating environment.’ Stores will close in phases throughout the Chapter 11 process – with the first phase, including specific store details and timing, disclosed in the coming weeks. As of February, the retailer had 846 stores nationwide.”

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