JCPenney was forced to temporarily close all of its stores amid coronavirus. But its struggles stretch back for years.

JCPenney has filed for bankruptcy, with the 118-year-old company buckling under pressure from the coronavirus.
The company joins the growing list of large clothing retailers forced to file for bankruptcy protection, joining Neiman Marcus, J. Crew, and True Religion.
Citing people familiar with the matter, Reuters reported on April 14 that the department store chain was exploring bankruptcy after the coronavirus pandemic forced it to temporarily close all of its 850 stores.
On April 15, CNN Business reported that the company had missed a debt payment and invoked a 30-day grace period. It also skipped a second payment on May 7. The company has nearly $4 billion in debt. 
In a May 14 filing with the Securities and Exchange Commission, JCPenney said it had made a $17 million interest payment. 
It began to reopen stores in certain states at the beginning of May, implementing safety measures like plexiglass at registers and contactless curbside pickup. 
JCPenney has faced years of struggles, failing to turn a profit since 2011. Like many other department stores, it’s faced slumping sales as shoppers increasingly turn to online options and mall foot traffic declines. It has also faced stiff competition in off-price retailers like TJ Maxx and Ross Stores. Frequent changes to the executive team and shifting strategies did not help matters.
“JCPenney hasn’t created an experience that solidifies a place in consumers’ shopping habits,” Kathy Gersch, executive vice president of the consultancy firm Kotter, told Business Insider’s Mary Hanbury in May 2018.
JCPenney has closed dozens of stores in recent years, including six stores and a Kansas customer service center that permanently shuttered at the beginning of 2020. It reported that comparable sales decreased by 7.7% for the fiscal year ending February 1. 
JCPenney had been in the midst of a turnaround plan, spearheaded by CEO Jill Soltau, that involves reducing inventory and sharpening its focus on its core audience of middle-class families.