Replies to post #13132 on Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

[temp luvs amy]

The interest payments would have been tough. They would have thousands of dollars of debt to pay to keep he stores.

[temp luvs amy]

As I read the deal, the lenders gave $900 million in credit to a company which they would then own. Effectively giving themselves $900 million which they can then spend on building "their" company and/or recovering the loans they made to the previous owners and management