J.C. Penney’s Debt Holders Prepare A Last-Minute Rival Bid For Retail Real Estate
Oct 08, 2020
J.C. Penney’s lenders are battling over the company’s real estate and their potential payback as the department store retailer looks for an end to its bankruptcy with the holiday shopping season looming. Penney is close to having a solution that keeps alive the 118-year-old business and saves 70,000 jobs, but there’s no firm plan yet filed with the court. Deadlines continue to be missed, casting doubt with the retailer’s vendors, who in some cases are holding back shipments of merchandise that Penney needs if it’s going to have a productive holiday season. Read more at The Dallas Morning News.