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J.C. Penney emerging from bankruptcy could save 60,000 jobs - ABC News

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The pandemic-battered retailer filed for Chapter 11 bankruptcy in May.
ABC News Chief Business Correspondent Rebecca Jarvis breaks down why retailers are declaring bankruptcy and how it could be their saving grace.

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JC Penney is planning to file for bankruptcy as early as Friday, sources say

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JCPenney is spending $1 billion on store and online upgrades in latest bid to revive its business

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