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US department-store giant JC Penney filed for Chapter 11 bankruptcy protection on Friday night. But while the company may have cited Covid-19 pandemic as the main reason, the company has been in dire straits for years. The company, which operates about 850…
Struggling department store chain JC Penney announced it will exit its home appliances business, and some of its furniture business, while revamping the layout of its stores to focus on clothing sales to boost profits. The company, which hasn’t turned a…
Failing US president Donald Trump is facing widespread backlash from US retailers and brands over his intention to trigger a trade war with China and other nations. Just days after announcing tariffs on steel imports against the advice of officials, lawmakers…
Spanish fast fashion retailer Mango is to close 450 points of sale in the US after deciding not to renew a partnership agreement with department store JC Penney. The two companies had a five year contract where Mango operated concessions in 450 of the…
