JC Penney is planning to file for bankruptcy in the next day, sources say


J.C. Penney is planning to file for bankruptcy in the next day, people familiar with the matter tell CNBC. 

Its advisors are currently working on a bankruptcy filing that could come late Thursday night or early Friday morning, they said. They cautioned there is still a chance that final negotiations between the retailer and its lenders spill into the weekend and delay the filing.

J.C. Penney employed roughly 90,000 full-time and part-time employees as of February. It is working on a plan that would contemplate closing 180 to 200 stores while in bankruptcy. The retailer had 846 department stores as of February. 

The Plano, Texas-based retailer is planning on filing for bankruptcy…


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