Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  J C Penney Company Inc    JCP

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

J.C. Penney Company, Inc. : Bondholders withdraw claim Penney was in default on bond terms

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/20/2013 | 10:21pm CEST

J.C. Penney Co Inc bondholders who last month claimed the retailer had breached a covenant of a bond indenture withdrew and rescinded their notice of default on March 18, the company said in a regulatory filing on Wednesday.

The bondholders' law firm, Brown Rudnick, in early February sent Penney a letter saying that the department store operator had breached a covenant by granting a lien on its inventory.

The letter said Brown Rudnick represented investors who hold more than half of the outstanding bonds due in 2037.

The indenture agreement related to $326 million of outstanding bonds that mature in 2037, although the letter said that J.C. Penney could be in default on all of its $2.9 billion bond debt, according to a lawsuit filed by Penney soon after.

In a lawsuit, Penney asked a Delaware judge to declare that it was not in a default of its bond agreements.

The withdrawal of the notice of default is a break for Penney at a time concerns are high the chain could face a cash crunch after it reported a 31.7 percent decline in same-store sales during the fourth quarter.

Brown Rudnick was not immediately available for comment.

Shares of J.C. Penney ended regular trading on Wednesday down 0.7 percent at $16.17. The stock has fallen more than 50 percent in the past year.

(Reporting by Phil Wahba in New York; Editing by Steve Orlofsky)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on J C PENNEY COMPANY INC
04/29 BIZ BUZZ : Mayor offers displaced workers job-seeking assistance
04/28 OP-ED | A Mall on the Brink in Enfield
04/27 J C PENNEY : Mission accomplished, Friends of the Davenport Hotel disband
04/24 J C PENNEY : Jcpenney partners with sephora to expand beauty retail offerings wi..
04/21 J C PENNEY : Penney executive impresses
04/21 HITTING THE CENTURY MARK : J.C. Penney celebrates 100 years of business in Bemid..
04/21 J C PENNEY : Future businesses discussed Southwest Area Economic Development Cor..
04/19 J C PENNEY : store closure delayed
04/15 CORRESPONDENT OF THE DAY COD, APRIL : Return to customer-oriented service
04/15 J C PENNEY : Boston Herald The Ticker column
More news
Sector news : Department Stores - NEC
04/30DJMACY : Bluemercury to Open Manhattan Flagship Store
04/28 AMAZON COM : Deutsche Post to deliver groceries for AmazonFresh in Germany
04/28DJMICROSOFT : Makes Gains On the Cloud -- WSJ
04/28DJAMAZON COM : Big Tech Extends Earnings Boom -- WSJ
04/28DJALPHABET : Tech Giants Alphabet and Amazon Extend Earnings Boom
More sector news : Department Stores - NEC
News from SeekingAlpha
04/26 J.C. PENNEY : Don't Give Up Just Yet
04/24 J.C. PENNEY : Much More Than A Penny For Your Thoughts
04/24 J.C. Penney to expand Sephora presence
04/23 A Look At J.C. Penney's Q1 2017 Prospects
04/23 Top 3 Reasons To Buy J.C. Penney Now
Advertisement
Financials ($)
Sales 2018 12 340 M
EBIT 2018 494 M
Net income 2018 150 M
Debt 2018 3 446 M
Yield 2018 -
P/E ratio 2018 11,36
P/E ratio 2019 9,76
EV / Sales 2018 0,41x
EV / Sales 2019 0,39x
Capitalization 1 660 M
More Financials
Chart J C PENNEY COMPANY INC
Duration : Period :
J C Penney Company Inc Technical Analysis Chart | JCP | US7081601061 | 4-Traders
Full-screen chart
Technical analysis trends J C PENNEY COMPAN...
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 8,62 $
Spread / Average Target 60%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Marvin R. Ellison Chairman, President & Chief Executive Officer
Edward J. Record Chief Financial Officer & Executive Vice President
Therace Risch Chief Information Officer & Executive VP
Robert Gerald Turner Independent Director
Leonard H. Roberts Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
J C PENNEY COMPANY INC-35.26%1 660
KERING33.40%39 142
WESFARMERS LTD2.04%36 501
AEON CO LTD-0.21%12 925
EL PUERTO DE LIVERPOOL..-1.10%10 654
LOTTE SHOPPING CO LTD--.--%7 274
More Results