J.C. Penney files for bankruptcy
WHITE MARSH, MD—J.C. Penney filed for bankruptcy on Friday, as was predicted earlier this week. In a news release, the company announced that it had has entered into a restructuring support agreement (RSA) with lenders holding approximately 70% of J.C. Penney’s first lien debt to reduce the company’s outstanding indebtedness and strengthen its financial position. The RSA contemplates agreed-upon terms […]