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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.
Why is Macy's closing 150 stores? Is it because consumers are tired of paying high prices for imported clothing? Or because they don't want to get off their lazy butts to go
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JCPenney unveils plans for $1 billion remodeling of stores and website upgrade - CBS News
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JC Penney is planning to file for bankruptcy as early as Friday, sources say
JCPenney CEO: Working families are struggling to get by as inflation bites
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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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