PLANO, Texas - Struggling retailer JC Penney could file for bankruptcy this week.
The Plano-based company is dealing with nearly $4 billion in debt.
It has 850 stores still open but the coronavirus pandemic forced it to temporarily close all of them and furloughed some of its 85,000 employees.
JC Penney missed a $17 million interest payment last month.
It is negotiating for a loan that could get it through the bankruptcy reorganization.
JC Penney has been around for 118 years.