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Will JCPenney go bankrupt?

JCPenney got final approval on its plans to emerge from bankruptcy just last week on the eve of the all-crucial holiday shopping season, thanks to a rescue by mall owners Simon Property Group (SPG) and Brookfield Asset Management, who will now own and operate the company.

Why did JC Penney file for bankruptcy?

J.C. Penney filed for Chapter 11 bankruptcy protection in May after temporary store closures due to the COVID-19 pandemic accelerated the company's troubles, which have been compounding for years. Save better, spend better: Money tips and advice delivered right to your inbox. Sign up here

What happens if JC Penney decides a bankruptcy bid?

If J.C. Penney determines that this bid is the best option, it will present that proposal to Bankruptcy Judge David Jones, who has pressed J.C. Penney to do its best to avoid liquidation and save jobs. Jones must sign off for the deal to become finalized.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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