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Penney’s Options Drying Up, What’s Next?

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Unable to get a deal done with three potential bidders for the operating company of bankrupt J.C. Penney Co. Inc., lenders are looking at a credit bid for the retailer. “We are going to do everything humanly possible to ensure [J.C. Penney] will be around for the foreseeable future,” Joshua Sussberg, the retailers’ attorney at…

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