Will JCPenney survive? That’s the question we’re down to right now as assorted interested parties are coming down to the wire in deciding who gets to own the once-legendary/now-not-so-much retailer that remains one of America’s iconic businesses. After two mall operators and a private equity firm apparently didn’t measure up to the bankruptcy court’s standards, it looks like the company’s creditors may end up holding the keys to the front door.
That’s not necessarily a bad outcome…although frankly there aren’t a lot of good outcomes. Decades of Stupid decisions have led things to a very difficult position. How it plays out will be fascinating — and hopefully not tragic — to watch. Here’s the latest in my new Forbes.com post: https://www.forbes.com/sites/warrenshoulberg/2020/09/01/a-penney-saved-is-a-penney-gained/#70f3b73951c3