Retail News

J.C. Penney skips $12M interest payment

The Dallas Morning News 04/15/2020

J.C. Penney said it is skipping a $12 million interest payment due on Wednesday. The retailer has a 30-day grace period before it is in default. Penney spokesperson Brooke Buchanan said the retailer is using the grace period “to continue ongoing discussions with lenders and maximize financial flexibility.”

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