The bankrupt department store chain is hemorrhaging sales, threatening its ability to restructure successfully.
News & Analysis: J.C. Penney
The department store's landlords may give it a bailout.
The department store has had some good news, but buyer beware.
Products in most categories are marked down by as much as 40%.
The two property companies have already bought one bankrupt clothing chain in 2020.
In return, the shareholders will drop a motion to have the company’s bankruptcy canceled.
Investors are betting on big turnarounds even among companies that have already sought protection from creditors.
Several possible acquisition deals are rumored, driving Penney’s stock higher.
The new lenders called the existing loan terms “predatory” and said the retailer was “bullied.”
The king of e-commerce would certainly, finally bring brick-and-mortar retailing all the way into the 21st century.