JCP Lines Up $1.75 Billion Loan

  • April 29, 2013

Beleaguered J. C. Penney Co. is calling in the credit cavalry, and says it has lined up a $1.75 billion secured loan facility with Goldman Sachs. The loan buys it time as it continues to clean up the chaos left in the wake of the ouster of CEO Ron Johnson. And it follows the news that billionaire George Soros has taken a 7.9% stake in the Plano, Tex.-based retailer.

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