J.C. Penney To Permanently Close About 242 Stores

Struggling retailer J. C. Penney Co. Inc., which is going through bankruptcy protection, plans to permanently close about 242 stores, according to a regulatory filing with the Securities and Exchanges Commission. In a separate development, Women's Wear Daily reported that e-commerce giant Amazon.Com Inc. is planning to buy J.C. Penney to bolster its apparel business.