Replies to post #23532 on Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

[Jay2030]

17 out of 19 JCP stores staying open across NYC area isn’t bad!!

[Large Green]

Good article and this part is very interesting.


JCPenney must decide by July 8 if it will make a second draw on in debtor-in-possession financing. The company received court approval for a $900 million DIP package in June, including $450 million in new money. If it separates the real estate business, the retailer will be able to draw down the full $225 million in remaining DIP funds. If it chooses to sell its entire business, JCPenney will be able to draw down $50 million of the remaining funds.

https://www.yahoo.com/lifestyle/bankrupt-jcpenney-closing-manhattan-mall-221447795.html