10 Mind-Blowing Facts About JCPenney's Epic Decline
Apr 23, 2013, 02:14 IST
Flickr fPat MurrayJCPenney is a retailer on the brink of collapse.
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"This is not a turn-around situation," George Bradt, managing director of executive consulting firm PrimeGenesis told us. "This is a 'turn off the lights' situation."
JCPenney's decline was accelerated when former CEO Ron Johnson took over in 2012. During his disastrous, 16-month reign, Johnson burned through the company's cash and drove away many of its loyal customers.
Even though Johnson was replaced by his predecessor Mike Ullman last week, many analysts feel the company's disturbing financials make it beyond repair.
We've compiled some facts to show the retailer's epic decline.
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