CIT cuts off credit to some J.C. Penn...

CIT cuts off credit to some J.C. Penney vendors: source

There are 4 comments on the The Hartford Courant story from Jul 31, 2013, titled CIT cuts off credit to some J.C. Penney vendors: source. In it, The Hartford Courant reports that:

Commercial lender CIT Group abruptly stopped funding some future shipments to J.C. Penney Co , a source familiar with the situation said Wednesday, in a move that could disrupt the retailer's holiday shipments and hamper sales.

Join the discussion below, or Read more at The Hartford Courant.

bob haller

Pittsburgh, PA

#1 Jul 31, 2013
I think this is the begining of much larger issues for penneys. It appears lenders are losing faith in getting repaid...

eventually penneys made be forced to declare bankruptcy
No surprise

Hampton, VA

#2 Aug 1, 2013
bob haller wrote:
I think this is the begining of much larger issues for penneys. It appears lenders are losing faith in getting repaid...
eventually penneys made be forced to declare bankruptcy
I am not surprised by the cut off credit with that law suit coming up. The rest of the rats are jumping ship. If that Stewart junk has to go, unlabeled or not, JCP will not have any income on remaining stock, huge hit because it has already been produced. JCP will have to get something to replace the hole it will leave in the store . This  isn't Macy's problem nor should Macy's be made to pay from Ronnie and Stewarts underhanded actions.

The Christmas season this year may help Ullman out, but I think JCP was put on an unbreakable cycle of a damped sine wave of up and downs. Ronnie spent all the cushion cash, fired his most experienced workers, including his in house designers, and reduced sales so badly there is just bits and pieces of fat left for Ullman. It is amazing Ronnie wanted until 2015 to continue on this path of spending. Oh well, my money isn't involved in this mess, it is hard to watch, like a slow motion train wreck coming to a stop. 

http://my.chicagotribune.com/#section

http://www.theolympian.com/2013/08/01/2650821...
bob haller

Pittsburgh, PA

#3 Aug 1, 2013
http://247wallst.com/retail/2013/08/01/j-c-pe...

it appears same store sales are still tanking. sadly it appears penneys may cease to exist.....

one thing for ron he killed it quick...
bob haller

Pittsburgh, PA

#6 Aug 3, 2013

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