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How Bad Are J.C. Penney’s Finances?

TheMotleyFool

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J.C. Penney's (NYSE: JCP) CEO Jill Soltau has been working to turn her chain's fortune around, but the company has come close to running out of money. The retailer has $4 billion in long-term debt and $1.7 billion in liquidity, but most of that is a revolving credit line. To buy itself time, the company has been trying to get more access to cash and push out the maturity of its loans. That might happen, but borrowing money is expensive, and with no sign of a turnaround, doing so may just be putting off the inevitable.

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Source Fool.com

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