JCPenney struts back to financial health
The retailer has a big liquidity cushion and its sales are growing after it escapes bankruptcy
09 May 2021 - 17:27
New York — JCPenney landed in bankruptcy court after foundering during the pandemic, but the reorganised retailer now sports a big liquidity cushion and its sales are growing.
The company has more than $1.2bn of cash and credit availability, interim CEO Stanley Shashoua said in an interview. And the 119-year-old company, whose financials are no longer public, has improved sales since it left bankruptcy in December...
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