PLANO (1080 KRLD) - JC Penney could be filing for bankruptcy as early as this week or next.
Reuters reports the Plano-based company's executives are preparing to file for the restructuring which could mean the closure of about 200 of its 850 locations.
Wall Street analysts believe the filing has only been hastened by the Coronavirus outbreak which has forced the furlough of thousands of employees as stores had to close under stay-home orders across the country.
Just last week, Dallas-based Neiman Marcus filed Chapter 11 bankruptcy.