6 stores are closing in April. Wonder if more are coming?
https://www.businessinsider.com/jcpenney-closing-stores-list-addresses-2020-1
4 replies (most recent on top)
The JCP corporate bonds are trading for about $.30 on the dollar. These are very experienced corporate investors that are selling their bonds for 30% of the face value. This is not good and to me it points to a bankruptcy either through reorg or a total shutdown.
Any information on the status of the store leases for these stores? Were they closed because they were underperforming or is JCP closing stores as their leases expire.
The company seems to mostly have a pattern of only closing stores once a year, during the start of the year. So my guess would be not anymore closings until next year. Which i'm sure their will be more next year.
There always are. Only question is how soon.