J.C. Penney files for bankruptcy

PERKINS TWP. — Sandusky's J.C. Penney faces a tough road ahead after its parent company filed for Chapter 11 bankruptcy. J.C. Penney has suffered falling sales every year since 2016, according to CNBC, but it's financial situation worsened due to the COVID-19 pandemic closing stores across the country. "Until this pandemic struck, we had made significant progress rebuilding our company under our Plan for Renewal strategy — and our efforts had already begun to pay off," company CEO Jill Soltau said. "While we had been working in parallel on options to strengthen our balance sheet and extend our financial runway, the closure of our stores due to the pandemic necessitated a more fulsome review to include the elimination of outstanding debt." The Texas-based retailer has more than 850 stores in the country, but it plans to reduce its footprint as part of the bankruptcy. But the company hasn't released which stores it plans to close or if Sandusky's would be among them. "They did the filing late Friday, and we've haven't seen any list of stores they plan on closing," said Joe Bell, the spokesman for Sandusky Mall owner Cafaro Co. "They've been pretty quiet." The Sandusky Mall's J.C. Penney remains temporarily closed at this time due to the pandemic despite Gov. Mike DeWine allowing retailers to reopen provided they follow guidelines. "We do not have information to share about (the Sandusky) store as of yet," J.C. Penney spokeswoman Kristen Bennett said. "I can tell you that we have several stores opening in Ohio on Wednesday." J.C. Penney was the first store to open at the Sandusky Mall in the 1970s, and it's the last remaining original anchor store.