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J.C. Penney
The century-old department store chain has been swimming in red ink for the past few years.
In 2011, former Apple (AAPL) executive Ron Johnson tried to turn the ship around, but his strategy confused and angered what few customers J.C. Penney (JCP) had left. He was ousted after just 17 months.
So the retailer has resumed its slash-and-burn approach to salvation, announcing in January that it will close 33 stores and cut 2,000 jobs.
- Last updated June 24 2014 11:21 AM ET
