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J.C. Penney Could be in Danger of Following Sears Into Bankruptcy
Like Sears, J.C. Penney hasn't been profitable since 2010. It posted $3.9 billion in losses since then and has been closing stores in an an attempt to stanch the bleeding. And like Sears, it has run up debt while its credit rating has sunk deep into junk territory. The longtime department store rivals have made similar missteps and could share a similar fate. Like Sears, J.C. Penney hasn’t been profitable since 2010. It posted $3.9 billion in losses since then and has been closing stores in an an attempt to stanch the bleeding.