Replies to post #24455 on Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

[OTC_Buyer]

J.C. Penney gets more time from lenders in push for survival

https://www.cnbc.com/2020/07/15/jc-penney-gets-more-time-from-lenders-in-push-for-survival.html


KEY POINTS
Last week, J.C. Penney met a deadline to submit a business plan to its lenders.

It originally had a deadline of July 15 to get its lenders on board with those plans.

The department store operator now has until July 31 to review and discuss its plans with its lenders. Their support will help determine its survival.

[JB3136]

Yeah that whole REIT plan doesn’t look viable does it.

Still, the leases in the REIT are a liability for any investor since they are dependent on the ability of the tenants to pay the rent. The REIT that Sears hived off in 2015, Seritage Growth Properties, has fallen more than 74% this year, as investors have worried it may not get enough capital to convert one-time Sears stores into new properties.

[UP Trend]

Great news.. looks like it’s ready.

[garyhalvo]

You know what’s weird about that article, JCP laying off 1000 people and today I read that Amazon is hiring 1000 people.