The Dallas Morning News
J.C. Penney said its stores are reopening at a faster pace now, and it has asked all of its store landlords for abatements on rent.
The Plano-based department store chain, which filed for bankruptcy earlier this month, said Thursday that it has opened 150 more stores and has 304 open in 27 states.
At a hearing Thursday morning, Penney’s attorney Joshua Sussberg of Kirkland & Ellis said the company plans to begin permanent store closings in June. The process will take 12 to 14 weeks, and Penney is hoping to capture the back-to-school season with sales at stores that are closing, he said. A smaller second batch of store closings will start in July. . . . more
