JC Penney has been a staple of the US retail landscape for as long as most Americans can remember.
It even features in the hit Netflix show Stranger Things as a prominent anchor of the Starcourt Mall. Back in the 1980s, when the show was set, JCP was riding high as a popular destination for family and fashion shoppers alike.
Fast-forward to today and the picture could not be more different.
After a long period of decline, where customers and sales drifted away, JCP has filed for bankruptcy. As part of this process, 242 stores will close, around a third of the total. Debt will be restructured and the group will work to rebuild its beleaguered brand.
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