J.C. Penney Reaches Tentative Rescue Deal, Averting Liquidation

J.C. Penney Co Inc reached a tentative deal with landlords and lenders valued at $1.75 billion (1.35 billion pounds) to rescue the beleaguered department store chain from bankruptcy proceedings, averting a liquidation that would have threatened roughly 70,000 jobs and represented one of the most significant business collapses following the coronavirus pandemic, a company lawyer said.

from Top Business News- News18.com
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J.C. Penney Reaches Tentative Rescue Deal, Averting Liquidation J.C. Penney Reaches Tentative Rescue Deal, Averting Liquidation Reviewed by Team Exprssnews on September 09, 2020 Rating: 5

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