From the (Home) Business Desk ... Future uncertain for J.C. Penney

J.C. Penney has been part of the business community in Cape Girardeau for nearly a century, but its future here could be in doubt because of the company's uncertain financial picture.

According to published reports, the company is planning to file for bankruptcy protection, possibly later this week, and will close about 200 of its 846 locations in the United States. J.C. Penney has closed about 250 stores since 2012, when the retailer had more than 1,100 U.S. locations.

It is unclear whether a new round of closures would include the retailer's Cape Girardeau location, which has been an anchor at West Park Mall since the shopping center opened in 1981.

Stacey Keating, senior director of public relations and corporate communications with mall owner CBL Properties in Chattanooga, Tennessee, told me Friday while she was aware of the bankruptcy speculation, she could not provide additional information.

J.C. Penney Co. is reportedly dealing with a debt load of nearly $4 billion and stiff competition from other brick-and-mortar retailers and online outlets amid the COVID-19 pandemic.

J.C. Penney opened its doors in Cape Girardeau at 33 N. Main St. in 1924, 22 years after James Cash Penney opened his first department store in Kemmerer, Wyoming.

Originally known as The Golden Rule store, Penney's growing chain of stores was incorporated in 1913 as the J.C. Penney Co. Inc., and The Golden Rule name was phased out.

In 1914, the company moved its headquarters from Salt Lake City, Utah, to New York City to be closer to its major sources of merchandise.

In the decades following World War II, the company experienced significant growth with J.C. Penney stores springing up in suburbs and shopping centers from coast to coast. By the 1960s, the company was processing more than 2 million catalog orders every week.

In 1976, the J.C. Penney store in Cape Girardeau moved from downtown to 2103 William St., the current location of Ruler Foods, and remained there until moving to West Park Mall 39 years ago.

News of the pending bankruptcy filing was first reported Friday by Reuters.

As of Friday, the company had declined to comment on the bankruptcy speculation.

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Partitions have been installed on gaming tables at Century Casino Cape Girardeau and only three players will be allowed at each table to help reduce the possibility of spreading the coronavirus.Submitted

Century Casino Cape Girardeau general manager Lyle Randolph told me over the weekend he hopes to know in the next day or so when gaming operations will resume at the Cape Girardeau facility on North Main Street.

Formerly known as Isle Casino Cape Girardeau, the facility has been closed since mid-March as the COVID-19 pandemic spread into Missouri.

There were indications earlier this month the Missouri Gaming Commission would allow the state's casinos to reopen next weekend, but Randolph told me its possible the MGC will extend the "stay closed" order at least a few more days.

"Once we do open, we will start with a very limited operation," he said. "Likely only slots (with) no tables and no restaurants except for a limited menu at the Lone Wolf Express."

Casino guests will notice several changes at the casino designed to help prevent spread of the coronavirus. Those changes will include infrared technology that will measure the temperature of everyone passing through the turnstile entrance and alert staff if anyone has a temperature of 100.4 degrees or more.

"Social barriers" have also been added to gaming tables and there will be a limit of three players per table.

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