![]() ![]() Those stores, disproportionately in smaller markets, generated 18% of Penney’s pre-bankruptcy revenue. Penney has begun clearance sales at 136 of the stores it is planning to close permanently as part of its bankruptcy protection process, liquidations that promise to add to the pain chains that Macy’s, Kohl’s, and Gap are already feeling.Ī month ago, Penney filed its business plan to emerge from Chapter 11 protection as a leaner, better-run company, saying it would close 242 of its 840-store fleet by 2021, including 192 this year. ![]()
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