Nine retailers have filed for bankruptcy in the first three months of 2017: Payless, RadioShack, The Limited, and more. If filings continue at this rate, the year 2017 could surpass 2008 (year that the great recession started) for retail bankruptcies. That year there were twenty.
JCPenney is closing 138 stores, KMart is closing 108, and CVS is closing 70 (none of these have filed so far). Check here for the other 3300 stores scheduled to close in the U.S.
JCPenney has been having less success with women's apparel, so home goods and beauty products are going to get more space while women's shoes will go to an "open sell" arrangement. They know they'll have to make changes in the stores that are still open after the 138 closings.
Hopefully the company can adjust to changing times. For a couple of years, rumor has linked it to possible bankruptcy.
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