Posted on 05/15/2020 6:39:31 PM PDT by struggle
Ironic that Sears basically started Prodigy, the largest internet connectivity service in the 80’s and 90’s.
That’s a good question right there.
I’m 62. I remember back in the 60s, early 70s every year I would go to JC Penney with Mom to get my clothes for the upcoming school year.
I think the last time I did any real shopping in JC Penney was right before I got out of the Army in 1984 and I needed a couple of business suits.
Hard to remember that JC Penney and Sears were once the go-to retailers for the great American middle class.
That was before the left-wing elite set out to destroy the middle class.
At one time, J.C. Penny had a savings bank - we had one of their CDs that paid better than average interest in the late 80s.
The company has been a dead man walking for years.
What astounds me is the vendors that have been extending credit to JCP. They are going to get stiffed - I can’t feel sorry for them - and the company still isn’t going to survive anyway.
I have been screwed by companies that went Chapter 11. IMO, there should be no such thing as Chapter 11. If you can’t pay your vendors and they won’t work with you on it, it’s for a reason. They know you are not going to make it. Chapter 11 is just a way for a company to get a second chance at not paying suppliers. Shut the doors and divided up the assets. Either way, as unsecured creditors, the vendors never get paid. The lawyers do, though. How about that?
There has to be an entrepreneur who sees this, right?
“downfall hastened by the coronavirus crisis”
FakeNewsMSM attributes every victim of the lockdown as being the result of the virus.
liars.
What’s a Kodak? ;)
Those companies probably had a board of directors telling themselves they were doing fine, they had a catalog, stores in all the malls.
What's this internet thing? Probably a passing thing. Won't amount to much.
The company I work for has the same mentality.
A board of directors still wedded to a brick and mortar store distribution system. The internet is kicking our butts, but we're gonna press on.
If JC Penney can do it, and Sears can do it, and many other companies can do it,
why not the states and federal governments.
Have Trump take the federal government into Chapter 11 bankruptcy (which will allow the elimination of millions of federal worker jobs and agencies/departments, and the trillions in freebies/giveaways), and led the creditors get back only pennies on the dollar, and ...
VOILA! The federal debt disappears or dwindles to a meaningless few billion dollars.
Walmart used to be that “Made in the USA” distributor when Sam was alive.
Everybody sees it - but US consumers won’t pay to support it. They vote the concept down at America’s cash registers every single day.
They had filed 7 a couple of years ago this is the final nail in the coffin!!
filed 11 a couple of years ago!! OOPS
They’ve been on the ropes for at least 5 years.
JC Penney is the last surviving original store from when my local mall opened in 1978. Sears closed a year and a half ago.
So kind of sad.
But -— they did go gay so....
I could care less...
In 2012, JC Penney hired Ellen DeGeneres to be their national spokesperson for their new "fair and square" motto.
Some groups saw it as a corporate attempt to normalize the gay lifestyle.
jcpenney Partners With Ellen DeGeneres
"Ellen DeGeneres is one of the most fun and vibrant people in entertainment today, with great warmth and a down-to-earth attitude. The millions who watch her on television and follow her through social media relate to her and trust what she has to say," said Michael Francis, president of J. C. Penney Company, Inc. "Importantly, we share the same fundamental values as Ellen. At jcpenney, we couldn't think of a better partner to help us put the fun back into the retail experience. Moving forward, we'll be focused on being in sync with the rhythm of our customers' lives and operating in a 'Fair and Square' manner that is rooted in integrity, simplicity and respect. We're thrilled that she's joining our team to help convey the exciting transformation under way."
jcpenney CEO on Ellen DeGeneres controversy
jcpenney is trying to rebuild its customer base with help from a new spokeswoman, Ellen DeGeneres.But a group called One Million Moms is accusing the company of "jumping on the pro-gay bandwagon."
DeGeneres responded to the group on her TV show Wednesday, saying, "I'm happy about (being the spokesperson), jcpenney is happy about it. But there's this group called One Million Moms that is not happy about it. And normally I try not to pay attention to my haters, but this time I'd like to talk about it because my haters are my motivators. This organization doesn't think I should be the spokesperson because I am gay. So for those of you tuning in for the first time, I'm gay. I hope you were sitting down. ... So they wanted to get me fired, and I'm proud and happy to say that jcpenney stuck by their decision to make me their spokesperson."
In a statement last week, jcpenney said it stands behind its partnership the talk show host.
On "CBS This Morning," Thursday, jcpenney chief executive officer Ron Johnson, said the company "shares the same values" as DeGeneres and that the decision to have her as a spokesperson was a "no-brainer."
J.C. Penney fires CEO after plummeting sales following gay ad campaign
Plenty of companies have argued that natural marriage is "bad for business"--but they'll have a tough time persuading J.C. Penney. After a series of radical decisions, the retailer is struggling to survive a 25 percent drop in sales.It started in 2011 when the company hired Ellen DeGeneres, a vocal proponent of same-sex "marriage" as its spokesperson.
The choice drew fire from organizations like the American Family Association (AFA) because it was a departure from the store's longstanding values. When AFA's One Million Moms complained, J.C. Penney's new CEO, Ron Johnson, stubbornly dug in his heels.
Then, on Mothers' Day, the company shocked customers with a blatant endorsement of homosexuality in an ad that featured two moms--followed by a two-dads ad for Fathers' Day. Coupled with an overhaul of the stores' pricing system, the stock never recovered.
-PJ
I don't like to buy clothes online because I can't try them on. If they don't fit after you get them, then you have the hassle of sending them back. I'm old school. I'd rather try the clothes on in the store and then buy them so I know they'll fit.
I don't know whether the local store in the city will make the cut for reorganization or not. I live out of town on a farm and don't go to town much. But they always had deals on clothes.
Same thing happened to a friend of mine except he had been there almost 40 years starting right out of high school. Fortunately for him, he was so well known and liked in the mall that he had several job offers in a matter of days when the other retailers learned that Penney's had gone stupid.
Google it ... multiple articles available
Sad. I used to work for JCP back in 70’s for a year or so.
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