block sale imminent, shorters scramble to take advantage
as large holders try to avoid further losses while in-fighting by directors see who ends-up holding the JCP-bag and its expensive but now outdated mid-size outlet stores. Liquidation, downsizing and reorganization to eliminate long-term leases and employment agreements will be the only solutions to this retail dinosaur. Profits at SEARS and JCP, KMART were gobbled up a long time ago by WALMART on one hand and AMAZON on the other. Mid-size department stores are only supported by legacy customers who are slowly disappearing. Eliminating the last successful marketing tool of "sales" and "specials" by JCP was the next to last nail in the the coffin. The last nail will be its attempt to bring back former leaders who "don't have a clue" how to market in today's economy.