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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.