From the ‘sad news’ file, JC Penny is getting ready to file bankruptcy. That’s too bad. I remember JCP being one of those ‘stalwart’ companies I grew up with. Bradless, Woolworths, Rickles, Kmart, Sears. All of them are now dead, dying, or long gone.
It’s a shame but my nostalgia doesn’t pay the bills for them and they have a lot of debt to pay back. When I think about it, why is that we operate on such an insane debt model?