J.C. Penney May File For Bankruptcy Today

(Plano, TX) — J.C. Penney reportedly plans to file for bankruptcy, and it could happen as soon as today.

The Plano-based retailer’s advisors say negotiations between the company and its lenders may still last into the weekend and delay the bankruptcy filing. J.C. Penney had about 90,000 full-time and part-time employees in almost 850 department stores as of February.

It’s working on a plan that could close up to 200 stores while in bankruptcy.

Image courtesy of JCPenney