Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

[PennyStockInvestor]

J.C. Penney Company, Inc. Is 1 Step Closer to Bankruptcy

By Adam Levine-Weinberg
February 6, 2014

JCP Liquidity problems ahead

J.C. Penney's ongoing poor performance puts the company on a path toward severe liquidity issues later this year, which could intensify further in 2015 -- if the company gets that far. J.C. Penney achieved its goal of ending the 2013 fiscal year with more than $2 billion of liquidity (cash and investments plus a credit line), but that shouldn't give investors much comfort.

The problem is that J.C. Penney burned $3 billion of cash through the first three quarters of its recently concluded fiscal year. In other words, at last year's rate, J.C. Penney would be out of cash by the fall.


http://www.fool.com/investing/general/2014/02/06/jc-penney-company-inc-is-1-step-closer-to-bankrupt.aspx