|Bid||0.0000 x 900|
|Ask||0.0000 x 900|
|Day's Range||0.1670 - 0.2352|
|52 Week Range||0.1112 - 1.2600|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 22, 2020 - May 28, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.00|
The retailer sought payments it argued were necessary to retain a number of key employees, who do not include top management.
The survival of J.C. Penney Co Inc <JCP.N> hangs on whether the department store chain can reach a complex deal within days to sell itself to an alliance of retail mavens and distressed-debt investors. The 118-year-old retailer blew through a Friday deadline from lenders to sort through bids that would take the company out of bankruptcy proceedings that were commenced in May after the pandemic forced it to temporarily close all its 846 stores. The Plano, Texas-based company, already facing concerns from U.S. Bankruptcy Judge David Jones that its restructuring is not moving fast enough, is racing to reach agreement on a sale that would carve the retailer into three pieces.
Yahoo Finance’s Brian Sozzi and Alexis Christoforous break down today’s market action with Invesco Global Market Strategist Brian Levitt.