J. C. Penney Co. Provides Statement On Strategic Advisors

PLANO, Texas —July 19, 2019 —  J. C. Penney Co. Inc. has issued the following statement in light of recent reports:

“As a public company, we routinely hire external advisors to evaluate opportunities for the company. By working with some of the best firms in the industry, we are taking positive and proactive measures, as we have done in the past, to improve our capital structure and the long-term health of our balance sheet. We have no significant debt maturities coming due in the near term, and we continue to maintain a strong liquidity position. Also, given our strong liquidity position we can confirm that we have not hired any advisors to prepare for an in-court restructuring or bankruptcy.”

Posted July 19, 2019

Source: J. C. Penney Co. Inc.