Has the Coronavirus Pandemic Doomed J.C. Penney?
The global coronavirus pandemic has placed enormous pressure on even financially healthy businesses, but for ailing outfits like J.C. Penney (NYSE: JCP), the outbreak could be the kiss of death.
Sales were in a tailspin before the outbreak began forcing state and local governments to issue must-close orders to retailers, restaurants, and shopping malls to halt its spread. Now, with consumers self-isolating when they're not fighting for hand sanitizer and toilet paper, the huge debt load J.C. Penney carries looks like an even heavier burden.
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Source Fool.com
