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J.C. Penney (JCP) +1% AH on news it has increased the size of its credit facility by $300M to...

J.C. Penney (JCP) +1% AH on news it has increased the size of its credit facility by $300M to $1.8B. Also, the facility's accordion feature has been increased to $400M.  The hike comes amidst claims the cash-burning retailer is defaulting on the facility due to a technicality. (PR)
Comments (1)
  • Daniel L. Chen
    , contributor
    Comments (22) | Send Message
     
    JCP's new business model, the "store-within-a-store" model, is great, bringing in double the revenue per sq. feet compared to its old model. I just hope they can hang on long enough to see this fully implemented...investors are growing impatient.
    13 Feb 2013, 04:10 AM Reply Like
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