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JC Penney Is Planning to File for Bankruptcy in the Next Day, Sources Say

CNBC.com

The Plano, Texas-based retailer is planning on filing for bankruptcy in Corpus Christi, Texas, the people said. It has been negotiating with its first lien lenders a $450 million loan to finance the bankruptcy, which would require the troubled retailer to hit certain goals to receive the second half of it, CNBC previously reported...

Mentions: Sears stake JC Penney