J.C. Penney (JCP) is trying to raise $1B and is hiring Blackstone (BX) for advice on how it can...

|About: J.C. Penney Company Inc. (JCP)|By:, SA News Editor

J.C. Penney (JCP) is trying to raise $1B and is hiring Blackstone (BX) for advice on how it can shore up its fast-eroding stockpile of cash, WSJ reports. One option could be to sell a minority stake in JCP, and the company reportedly is reaching out to possible investors including P-E firms.