PLANO (1080 KRLD) - Plano-based J.C. Penney's finances are sinking and Reuters reports a bankruptcy filing is under consideration.
Penney is reportedly pondering the filing to give it space to rework what it calls "unsustainable" finances and to save money on upcoming debt payments.
Reuters also reports that Penney's is thinking about asking creditors to restructure debts even outside of bankruptcy.
Like most retailers, Penney's revenues are tanking because their stores are closed due to Coronavirus fears.
