Coronavirus crushes bankrupt retailer hopes for rebound, threatens jobs

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A closed Pier 1 Imports store stands in Fairfax, Virginia, on Thursday, May 21, 2020.

Andrew Harrer | Bloomberg | Getty Images

Bankruptcy doesn’t need to mean the end of a company. It can be a shot to shed debt, reorganize and come out stronger. 

But during the coronavirus pandemic, bankruptcy filings are increasingly spelling doom for retailers. In turn, it threatens thousands of more workers in an economy that has already suffered tens of millions of lost jobs.

Retailers’ woes could also have an impact on this year’s election campaign as employment will increasingly become a focus for politicians

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As JC Penney goes bankrupt, some question if it should emerge

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Does the world of retail really need J.C. Penney? 

As the department store chain filed for bankruptcy protection Friday evening, some question if the company still has a place in American retail. Or if it could ever bounce back from the fatal blow it has been dealt during the coronavirus pandemic, which forced its roughly 850 stores shut temporarily. 

“You have this issue of the middle collapsing,” said Steve Dennis, founder of retail group SageBerry Consulting and a Neiman Marcus strategy executive from 2004 to 2008. “I think conceptually there is only a place for one department store in the

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