Would you buy a house having a mortgage higher that would cost you more than buying the property next door, building a new house for less money?
As I see it: with present debt obligations, it would be cheaper for anyone to start afresh then buy-out JCP. The only tangible asset worth while is JCP's good-name, and that is tarnishing quickly. Its real-estate, and other assets have been mortgaged to the hilt just to cover fixed costs which present management has been unable to control. Lastly, the Board announced a couple of weeks ago that it created a "poison Pill" to prevent a buy-out as you believe. The Poison Pill protects management and the board with fabulous prizes and wealth should there be a take-over, but would leave share-holders holding the bag.
I don't trust Repubilcans want the market to grow, but to tank as they try to shut-down federal services by claiming Obamacare and gun-control will ruin our country. Maybe it's a scheme to finance next elections by shorting now, create uncertainty and when market has tanked, cover filling coffers for more luxurious life-styles.
Today's news release is that JCP will team up with Disney to create a store within a store. JCP's prayer appears to be fairy dust from an imaginary flying adolescent. Wow. How creative. Didn't the Disney stores find their costs exceeded their income and closed down?