Maybe these are just turnaround pains, but things are not looking good for J.C. Penney. Bloomberg reports the price of the department store chain's shares fell 30 percent in the past day or so, as news emerged that it was looking for additional financing and Goldman Sachs announced it expects J.C. Penney's liquidity to be strained.
Two days ago, it was widely reported that J.C. Penney was shopping for new loans, some of which may be secured by its real estate, the retailer's one (and possibly only) trump card.
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