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OTR Global is out with a warning that retail industry stalwart CIT Group is assessing a 1%...

OTR Global is out with a warning that retail industry stalwart CIT Group is assessing a 1% surcharge on all invoices from J.C. Penney (JCP -0.1%). Last year, shares of Sears Holdings were sent tumbling after CIT Group pulled its lending for the retailer.
Comments (1)
  • GeorgeMason
    , contributor
    Comments (129) | Send Message
     
    Not surprising. I've read somewhere recently that vendors are asking for letters of credit now.
    14 Mar 2013, 01:31 PM Reply Like
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