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How COVID-19 Might Derail Penney’s Bankruptcy Plans

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How soon retailers can fully reopen their doors could dictate J. C. Penney’s ultimate fate. The mass merchant filed a Chapter 11 petition for bankruptcy court protection on Friday in a Corpus Christi, Texas, federal bankruptcy court, listing total assets at $8.57 billion while tallying $8.03 billion in liabilities. Estimates show the company has more…

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