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JCPenney, a once-prominent department store chain, has experienced financial struggles leading to multiple bankruptcy filings. However, the company has emerged from Chapter 11 bankruptcy, signaling a potential turnaround. Despite this, other retailers are ending 'hero pay' for employees amid financial pressures. The sale of JCPenney has been approved by the bankruptcy court, raising questions about the future of the storied brand. Stay tuned for updates.

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