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DewDiligence

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DewDiligence

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Friday, 05/15/2020 7:05:25 PM

Friday, May 15, 2020 7:05:25 PM

Post# of 29260
JCP files for bankruptcy:

https://finance.yahoo.com/news/j-c-penney-files-bankruptcy-223435709.html

The U.S. department store chain, known for selling family apparel, cosmetics and jewelry at roughly 850 locations, said it reached an agreement with creditors for about $900 million of fresh financing to aid operations, while it navigates bankruptcy proceedings.

…The bankruptcy filing caps a long decline for the 118-year-old department store chain, which once operated more than 1,600 locations that became fixtures in U.S. malls. The company at one point employed nearly 200,000 people.

JCP went public in 1929. It owned the Eckerd drugstore chain, then the fourth-largest in the US, from 1996 to 2004.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
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