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JC Penney makes $17 million interest payment as it explores bankruptcy

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An empty parking lot is shown at a closed JC Penney store in Roseville, Mich., May 8, 2020.

Paul Sancya | AP

J.C. Penney said Friday that it has made the approximately $17 million interest payment that was due and payable on May 7.

Making the payment may be one form of J.C. Penney negotiating with its lenders. It has been in talks for a $450 million loan to finance bankruptcy plans. The troubled retailer would get half upfront and be required to hit certain goals to receive the second half of it, CNBC previously reported

CNBC reported Thursday night that the retailer was working on a bankruptcy filing that could come as soon as Friday. People familiar with the matter, who declined to…



Source cnbc.com

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