Retail Giant JCpenney Files For Bankruptcy

The company blamed the Covid-19 pandemic for the need to file bankruptcy.

DOCUMENTS AND BRIEFING, TOBIPARTISAN CONGRESSIONALSTEPH.RETAIL GIANT, J.C.

PENNEYIS NOW FILED FOR BANKRUPTCY.IT COMES AFTER THE TROUBLEDCOMPANY RACK UP FOUR AND AHALF BILLION DOLLARS IN LOSSESOVER THE PAST DECADE.EXECUTIVES BLAMED THECORONAVIRUS FOR SEALING ITSFATE.THEY'RE -- THERE STILL MAY BESOME HOPE.THE COMPANY FIRED CHAPTER 11,MANY OF ITS 846 MAY CLOSE,LEND VERSE AGREED ALLOW IT TO