J.C. Penney to File Bankruptcy Next Week?

Reuters and several other news outlets are predicting J.C. Penney will finally declare bankruptcy next week. From one article:

J.C. Penney passed a deadline for a $17 million debt payment Thursday and only has five days to catch up on it before it defaults. The 30-day grace period for a $12 million payment J.C. Penney skipped mid-April closes next Friday.

Penney's was founded in 1902 and has been a Shoals staple for longer than most of us have lived. If the mid-range department store does close, only Belk and Dillard's will remain as anchors in Florence Mall. Long gone are Sears, Parisian, and Pizitz/McRae's.

Perhaps we should begin a pool as to who will be the designated business to turn out the lights?

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