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

J.C. Penney Co., 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.

The chain doesn’t have immediate cash needs, and is exploring fundraising amid shareholder pressure to take advantage of cheap financing, said the people, who asked not to be named as the deliberations are private. Goldman Sachs Group Inc., which arranged a $2.25 billion loan for the retailer this year, is advising J.C. Penney on funding options including borrowing against its real estate, said one of the people.