JCPenney seeks bankruptcy protection amid Covid-19 disruption

JCPenney seeks bankruptcy protection amid Covid-19 disruption

US department store chain J.C. Penney (JCPenney) has filed for bankruptcy protection besides reducing its store count to better align its business with the prevailing operating environment resulting from the coronavirus crisis. The retailer has signed a restructuring support agreement (RSA) with lenders holding nearly 70% of its first lien debt to reduce its outstanding […]