JC Penney is nearly $4 Billion in debt and due to a drop in sales because of the Coronavirus pandemic they are expected to file for bankruptcy next week. Their stores across the country had to furlough their employees due to the pandemic but has continued to pay their health insurance. While the store is in talks with creditors about a "debtor in possession" loan to help it's finances while it tries to get through the bankruptcy, closing stores seems to be pretty much a certainty.
So, what does this mean for the JC Penney that's in Crossgates? Right now I'm not really sure. They have not announced which stores they will be closing as of yet. Let's keep our fingers crossed that the JC Penney in Crossgates will remain once all of our restrictions are lifted and life returns to "normal" after this pandemic passes.