50 Brands on the Brink of Declaring Bankruptcy

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J.C. Penny is one of the three major department stores that are struggling. The CEO left in hopes of a more secure position, and it seems like that was a great decision for him. The large retailer filed for bankruptcy soon after. As an attempt to stay afloat, the bankruptcy is a restructure plan that will close 240 stores by 2022. This is 30% of their total locations, so it's a pretty big hit. They're hoping not to go under, but we'll see. 

J.C. Penny

In 2020, the store filed for Chapter 11 bankruptcy protection. However, the company was able to emerge from bankruptcy later that year after it reached a deal with its creditors and landlords to reduce its debt load. It has been working to turn its business around by focusing on its e-commerce offerings and rebranding itself as a more modern and relevant retailer.

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Did you know...

  • It's an understatement to say that the odds when playing the lottery are not in your favor. You are statistically three times more likely to die in a car accident while driving 10 miles to buy a lottery ticket than you are to actually win. Even more astounding, over half the tickets in an average lottery draw are bought by only 5% of the participants.
  • Want a money saving tip? Ditch credit and debit cards, and stick to carrying around cash. Studies show people spend between 12 – 18% more when using a plastic card as opposed to when paying for things in cash. If you physically have to dole it out, you’re much more aware that you are spending your hard-earned money!
  • There are over 1.6 million automated teller machines around the world. And that really does mean the entire world. There are even two ATMs on Antarctica at McMurdo Station operated by Wells Fargo. Friday is the most popular day that ATMs are used worldwide, and the average withdrawal is around $80.
  • Paper money is actually pretty heavy. One pound would be worth $454 in $1 bills. That means $1 million comprised solely of $100 bills would weigh over 20 pounds. Those suitcases filled with money in movies must be hefty to lug around all that paper money. If you plan on robbing a bank, you better bulk up!
  • Once you've handled all your money, you should probably wash your hands. Money is some of the dirtiest things that we own. In fact, it's been found to be dirtier than a household toilet! During flu season, the virus can live on a bill for up to 17 days. That's just plain disgusting!