Editor’s note: The article has been updated to reflect that only a quarter of the 850 stores could be closing.
(WKBN) – JCPenney is considering closing some of its stores and filing for bankruptcy, Reuters is reporting.
According to Reuters, the decision could come next week.
Roughly a quarter of the 850 stores may be permanently closing, but JCPenney is also considering alternatives that include negotiating a deal with creditors outside of bankruptcy court or obtaining additional financing, sources told Reuters.
JCPenney didn’t release a comment in regard to Reuters’ report.
