TOO MUCH DEBT TO SURVIVE.
JCP CEO said yesterday "Restructuring in 2014" sounds like Chap. 11?
HUGE SALE VOLUME TODAY, By the way in case you are curious, after the few most recent sell offs, the one today was all INSTITUTIONAL DUMPING WHICH MEANS THE SUPPORT FLOOR IS GONE!!! i.e. NO BOTTOM!
Two complete idiots in a row, and now they want to retro-fit all of their existing stores? Someone wake me up from this nightmare!!!!
They now shoot themselves in the foot daily.
Too bad it will be their last!
If there were 10 warning signs to failure JCP hit both 9 and 10 today with news of BK by their CEO and his denial that he hired a BK Attorney, he is an idiot!
Something leaked out today, we will find out what about next week, must be really bad to drop a beaten down stock like JCP this much, smells like Chap. 11?
Sounds good, but in reality no one in their right mind would extend $150M in goods and services in credit to an Co. that could file BK overnight and lists you as creditor 1022 on the list.
You see in retail money is the blood that flows and keeps the heart pumping, cancer is debt, thus JCP has cancer and it is cutting off the blood flow that kills the heart and stops the pumping and JCP dies. RIP.
Vendors are scared and might force it this year?
He must be trying to cover himself personally from lawsuits?
THING IN THE MORNING, they will be yelling dump, dump sell sell sell, then the shorts will jump on and then the Hedge Funds will jump on, we could drop 50% from here! This is B.S. here comes even more Lawsuits.
This post speaks volumes about what is wrong with JCP.
Looks like the stars are lined up for this to crash from here to below $5.00?
Guess what the next shoe is to drop?