JCPenney Bankruptcy Sale —

JCPenney is heading for a bankruptcy sale:

“A December resolution of all of this would be 7 months after JCPenney went into bankruptcy on May 15, 2020. The company has a $900 Million ‘debtor in possession’ financing facility and a first-lien debt of about $1.6 Billion. This DIP debt is held 94% by H/2 Capital Partners; they also hold 75% of the first lien debt.”

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