What Happens to Shareholders if J.C. Penney Files for Bankruptcy? [The Motley Fool]
JC PENNEY (JCP)
Last jc penney earnings: 2/27 07:30 am
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ir.jcpenney.com
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Source: The Motley Fool
The coronavirus pandemic appears to have pushed already damagedJ.C. Penney(NYSE:JCPThesereportsIt's fair to say that CEO Jill Soltau might have had a chance to continue her chain's slow turnaround. But that seems less and less likely now as theThat makes a Chapter bankruptcy filing a real possibility. For the company, that might help it stay afloat and get back on track. For shareholders, that's probably really bad news.J.C. Penney has a concept store where it's trying out new ideas. Image source: J.C. Penney.What would a J.C. Penney bankruptcy look like for shareholders?The department store chain closed out 09 with about $.8 billion in liquidity, and it had $86 million in cash. It's hard to estimate the company's expenses at the moment because it has furloughed workers, cut some executive salaries, and pushed back or canceled orders for new inventory.If it has to declare bankruptcy, it's likely to opt for Chapter . The Securities and Exchange Commission (SEC) defines that on its web
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