The bankrupt retailer said it will close a total of 242 underperforming locations, leaving about 604 stores operating in a financially sustainable operating company and a real estate investment trust. In an SEC filing, JCP noted that the 71% of stores that will remain open accounted for 82% of last year’s revenues. It expects that 192 of the closures will happen by the end of FY21 next Feb., and that the remaining stores will be closed during the following year. The plan has the support of consenting stakeholders, who together hold approximately 70% of the debtor’s first lien debt. Once ... Log in to view full article.