J.C. Penney needs a buyer, fast
August 3, 2020
J.C. Penney needs to reach a deal with a buyer or buyers within days to file court papers and comply with a directive from U.S. Bankruptcy Judge David Jones to speed up its restructuring plan. The department store retailer, which had been losing money for years as it struggled to keep up with a crushing debt load, was forced to file for Chapter 11 protection when it temporarily closes all 846 of its stores due to the COVID-19 outbreak.
Recent News
Whole Foods and Amazon Fresh Offer Unlimited Deliveries for $10 a Month
Amazon has unveiled a new program that allows customers of both Whole Foods and Amazon Fresh to receive unlimited grocery delivery for just $10 per month.
GM Reports Surge in Profit on Gas Car Sales
Although General Motors has had trouble selling its electric cars, a recent report indicates that the increase in sales of gas-powered vehicles helped the company generate a profit.
Bubble Tea Bubble Bursts? Popular Brand’s Shares Plunge in IPO
The bubble tea craze has taken over cities of all sizes in the United States, but things aren’t looking good for a popular chain, whose initial public offering (IPO) tanked on the Asian market.
UPMC Cuts 1,000 Jobs Due to Post-Pandemic Challenges
UPMC, the largest employer in Allegheny County, Pennsylvania, is laying off about 1,000 employees. The cuts are a response to challenges in the post-pandemic healthcare market.