J.C. Penney Co. Inc. is in innovative talks for bankruptcy funding with a group of loan providers, an indication the troubled merchant is about to catch the economic collapse brought on by the coronavirus pandemic.
Penney remains in conversations with existing loan providers consisting of Wells Fargo & Co., Bank of America Corp. and JPMorgan Chase & Co. for a so-called debtor-in-possession loan that would keep the department-store chain’s operations funded during a court-supervised bankruptcy, according to people knowledgeable about the matter.
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source https://jobsearchtips.net/j-c-penney-in-advanced-talks-for-personal-bankruptcy-funding/
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