What is JCREW? thought i read JCPenny
Here are the stores may follow bankruptcy;
Neiman Marcus is considering filing for bankruptcy to ease its $4.3 billion debt load, Bloomberg
reported. Neiman Marcus is "completely helpless in light of the fact that the luxury sector may not emerge quickly when the pandemic crisis is over,"
JCPenney had $3.7 billion in debt at the end of 2019. Although JCPenney has enough liquidity to survive for the next several months, it may face challenges refinancing its debt in future,
"There's a good chance they can survive, but this is no layup," said Craig Johnson, president of Customer Growth Partners. "This is going to be a three-pointer deep in the corner with time running out." JCPenney will need to drastically reduce its 850 stores, Johnson said.