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J.C. Penney’s Debt Complicates Its Turnaround Strategy

J.C. Penney
Photo Credit: Azt3r1x via Wikimedia Commons cc

J.C. Penney’s stock has taken a beating during the past year, falling more than 70%. Shares now trade under a dollar. A failed revamp attempt under a former CEO lost the department store chain customers and money. Now, new CEO Jill Soltau has plans to get J.C. Penney back on track. But with the retailer’s debt standing at roughly $4 billion, some fear it could be too late.

Soltau… earlier this year described Penney’s turnaround attempt as “a long road” with “no silver bullets” that “will take time.” 

Read the full story at Reuters.