J.C. Penney has filed Chapter 11 bankruptcy.
It was reported last week that the troubled retailer was considering it, or getting closer to filing. However, the news that it happened means stores are certainly going to shut down.
The question is, which ones?
It is the fourth major retailer to meet that fate. Neiman Marcus and J.Crew both filed bankruptcy more than a week ago, and others are expected to join that list.
Even before the pandemic there were real questions about the long-term viability of J.C. Penney.