Struggling retailer J.C. Penney is in advanced talks with its lenders to reach a bankruptcy agreement. The department store chain is in discussions for a debtor-in-possession loan between $800 million and $1 billion with its lenders, the Wall Street Journal reported. The retailer entered into a 30-day grace period with Wells Fargo, Bank of America and JPMorgan Chase after missing an April 15 payment. The new loan would keep J.C. Penney’s operations funded during a
source https://therealdeal.com/2020/04/24/j-c-penney-in-talks-for-800m-bankruptcy-financing/
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