J.C. Penney Said in Talks to Raise More Money

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Sept. 20 (Bloomberg) -- J.C. Penney, the retailer that has borrowed more than $3 billion this year to fund a turnaround, is in talks to potentially raise more cash, said people with knowledge of the matter. Cristina Alesci reports on Bloomberg Television's "Street Smart." (Source: Bloomberg)

That jcpenney needs more cash.

It is working with banks, perhaps, to arrange additional financing.

This is on the heels of one woman took over in -- of when the takeover in april drew down on the credit line.

The company borrowed additional cash, to the tune of $2.25 billion.

Now, we are hearing they may securitize or borrow against real estate holdings.

Jcpenney has about $4 billion worth of real estate holdings you can borrow against.

The question becomes, how much of that is unencumbered to actually get fresh capital, borrow against that?

Not a great time for the company.

It has been through a troubling couple of months.

All we had encouraging signs.

Sales declines have flowed from 23% decline to 12% most recently.

There were green shoots for this company, and that has encouraged some hedge funds to increase their stakes.

But what this new round of financing means, not quite sure.

Investors are probably not going to like this news.

Christina elects he -- christina alexi, thank you for

This text has been automatically generated. It may not be 100% accurate.


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