" /> JP Penny’s Files For Bankruptcy – EastTexasRadio.com
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JP Penny’s Files For Bankruptcy

With 846 stores and 85,000 employees, Plano based J.C. Penney filed for bankruptcy Friday and is asking a federal judge to authorize the rejection of 20 leases in the company’s chapter 11 bankruptcy. The company said it plans to accelerate permanent store closings but declined to provide details on which locations it plans to shut down.