(Reuters) – J.C. Penney Co Inc (JCP.N) has employed advisers to discover debt restructuring choices that might purchase extra time for the money-losing U.S. retailer to forge a turnaround, individuals acquainted with the matter stated on Thursday.
FILE PHOTO: A J.C. Penney Firm Inc. retailer is pictured at a mall in Langhorne, Pennsylvania, U.S. November 17, 2018. Image taken November 17, 2018. REUTERS/Suzanne Barlyn
The 117-year-old division retailer chain’s transfer represents a high-stakes try and get its monetary home so as earlier than its money coffers dwindle and its debt, totaling roughly $four billion, comes due within the subsequent few years.