JCPenney Now on the Brink of Bankruptcy

Following years of declining sales and now the effects of the Coronavirus (COVID-19) outbreak, JCPenney is now on the brink of bankruptcy.Reports are noting that 118-year-old company has been struggling with missed debt payments of $12 million USD due to bondholders April 15 and $17 million USD due on a credit line April 14. As the grace periods for those payments have now passed, all signs are pointing to an imminent bankruptcy filing.It is also interesting to note that the company recently pai...