Pandemic claims another US retailer: 118-year-old J.C. Penney

Penney is the biggest retailer to file for bankruptcy reorganization since the pandemic and joins luxury department store chain Neiman Marcus, J.Crew and Stage Stores. Plenty of other retailers are expected to follow as business shutdowns across the country have evaporated sales. In fact, U.S. retail sales tumbled by a record 16.4% from March to April.

from International-News-Economic Times https://ift.tt/2Aw4E4J
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