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.”
P.S. Many retailers are in a fight for their lives right now. As a supplier, you can’t afford to partner with a business that may not be operating in a month or two. If you want to solidify your relationship with Walmart or Sam’s Club, know that 8th & Walton’s experts can help. Book a consultation today.