With over 1,500 stores across the country and over 200,000 employees, the J.C. Penney Company was a mega retailer in the United States. It grew from humble beginnings with its founder James Penney and grew into an iconic retail institution in America. However those golden years only lasted until the early 2000's, when the retailer experienced a violent downturn until its eventual bankruptcy in 2020. Join me as I find out how this company went from billions to nothing.I had mentioned that executives at JCPenney scored bonuses before declaring bankruptcy, but I hadn't followed the story beyond JCPenney having been saved two years ago. I also hadn't realized that the companies who rescued JCPenney were also among those interested in buying Kohl's. It's a good day when I learn something new.
*I have the outline of the first awards show entry already written and I plan on posting it Monday. In the meantime, stay tuned for a recap of tonight's "Saturday Night Live" episode.