JCP is sufficiently liquid to stay alive through Q3 and almost certainly Q4.
If it turns in a Q4 like last year, though, its debt obligations will eat up all of its remaining cash and its (now senior secured) lenders will likely force a Chapter 11 where shareholders are wiped out and they take control of the company.
Here's a thought - - - - Reorganization was preplanned when MU came on board between MU, BOD, and GS - - - - Ackie baby sensed "turnaround" wasn't working - - got rid of MU before they could implement their plan and leave him holding the entire bag !!! Jus thinkin out loud -
I'm sorry to say I agree on the chapter 11 it's a more likely to occur than not, jcp will survive
But the shareholders will eat the loss IMO, long term protection can be brought through leaps
which I was forced to invest in