Money J.C. Penney files for Chapter 11 bankruptcy, plans some permanent store closings May 15, 2020May 15, 2020USA TODAYComments Off on J.C. Penney files for Chapter 11 bankruptcy, plans some permanent store closings J.C. Penney, reeling from a one-two punch of the department store industry's struggles and the coronavirus pandemic, filed for Chapter 11 bankruptcy.