Amazon could scoop up JCPenney

Business

Report: Amazon is believed to be a buyer for either all or parts of JCPenney

(FOX NEWS) — “Women’s Wear Daily” says Amazon is believed to be a buyer for either all or parts of the retailer and that there’s an Amazon team already in Plano, Texas, where JCPenney’s is based.

JCPenney is now under court-supervised bankruptcy reorganization and is preparing to close 242 stores over two years.

That would leave it with 604 locations.

It is also considering selling itself.

There’s speculation Amazon could convert the stores to its own checkout-free system which could fit in with social distancing.

Amazon could also be interested in JCPenney’s sites for distribution centers.

So far no comment from Amazon.

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