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These 20 retailers may go bankrupt in 2020

The Motley Fool Logo By Jeremy Bowman of The Motley Fool | Slide 2 of 22: J.C. Penney (NYSE: JCP) hasn't been the same since 2012. That was when former Apple stores chief Ron Johnson came in and upended Penney's traditional discounting model in an attempt to revamp the business. It didn't work. Comparable sales plunged 25% that year, and the company has been treading water or sinking since then.The company has $4 billion in debt on its balance sheet, and continues to see sales fall as comparable sales dropped 7.5% in November and December. Penney is also dealing with the threat of being delisted from the New York Stock Exchange, and said it may be forced to do a reverse stock split.Without an improvement in its financial performance, J.C. Penney's bankruptcy isn't a question of if, but when.ALSO READ: Will J.C. Penney Survive the Decade?

1. J.C. Penney

J.C. Penney (JCP) hasn't been the same since 2012. That was when former Apple stores chief Ron Johnson came in and upended Penney's traditional discounting model in an attempt to revamp the business. It didn't work. Comparable sales plunged 25% that year, and the company has been treading water or sinking since then.

The company has $4 billion in debt on its balance sheet, and continues to see sales fall as comparable sales dropped 7.5% in November and December. Penney is also dealing with the threat of being delisted from the New York Stock Exchange, and said it may be forced to do a reverse stock split.

Without an improvement in its financial performance, J.C. Penney's bankruptcy isn't a question of if, but when.

ALSO READ: Will J.C. Penney Survive the Decade?

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