The widow of Preston King, Penny inherited her husband's factory King's Robes after he died from a heart attack in 2003. Mike aided the transition by helping Penny appoint a manager and, after a brief relationship with Fred Elliott, Penny got together with Mike. She stood by him throughout most of his battle with Alzheimer's disease, until he could no longer recognise her at which point Mike's family took over his care.
Penny was the wife of local businessman Preston King, who often did business with factory owner Mike Baldwin. When Preston died Penny became close to Mike and a relationship ensued, but Mike's Alzheimer's crept in and Mike kicked her out of his flat. During her time on the Street, Fred Elliott took a shine to her and proposed to her but she turned him down. Penny's final appearance was at Mike's funeral. Jamie Baldwin worked for her clothing factory King's Robes in Kitchener Street up until late December 2006.
Penny, or her business successor, appears to be one of the sponsors of Weatherfield County FC, whose home ground as of the 2019/20 season is named the King's Robes Arena.
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