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J.C. Penney to Beg for Free Rent

June 1, 2020 | Reprints | Unlock Link | Print

Bankrupt mall anchor J.C. Penney plans to ask its landlords for free rent this summer.

The company disclosed its intent in a court filing last week.

The company operates stores at malls in Danbury, Farmington, Manchester, Torrington, Trumbull, Waterbury and Waterford.

Penney is the biggest retailer to file for bankruptcy reorganization since the pandemic and joins luxury department store chain Neiman Marcus, J.Crew and Stage Stores. Plenty of other retailers are expected to follow as business shutdowns across the country have evaporated sales. U.S. retail sales tumbled by a record 16.4 percent from March to April, the most recent month for which data is available.

The Connecticut Post was the first to report the news.