JCPenney has filed for bankruptcy - Business Insider
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JCPenney
Neiman Marcus
J. Crew
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the Securities and Exchange Commission
TJ Maxx
Ross Stores
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Jill Soltau
Kathy Gersch
Kotter
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Kansas
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Plan for Renewal
Summary
While we had been working in parallel on options to strengthen our balance sheet and extend our financial runway, the closure of our stores due to the pandemic necessitated a more fulsome review to include the elimination of outstanding debt," CEO Jill Soltau said in a press release about the bankruptcy filing. While we had been working in parallel on options to strengthen our balance sheet and extend our financial runway, the closure of our stores due to the pandemic necessitated a more fulsome review to include the elimination of outstanding debt.Implementing this financial restructuring plan through a court-supervised process is the best path to ensure that JCPenney will build on its over 100-year history to serve our customers for decades to come.
As said here by Madeline Stone