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Penney’s Nabs $900 Million in Financing But a Fight for its Future Begins

Join us on January 26 at 11 am ET for a webinar with Lenzing, TextileGenesis and sustainable brand ArmedAngels for a discussion on how they’re using Fibercoin technology to realize traceability’s benefits to sustainability, brand loyalty and risk mitigation.

J.C. Penney got a bankruptcy court judge’s approval on $900 million in new financing, but the onerous terms could still topple the firm into liquidation. The mass merchant was expected to move forward on the debtor-in-possession facility with Silver Point Capital and H/2 Capital Partners, even though it offers restructuring terms leave left little room…

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