J.C. Penney filed lawsuit against debt holders who say it's in default

Feb 4, 2013 Full story: Dallas Morning News

J.C. Penney Co. filed a lawsuit Monday after debt holders claimed it is in default because it pledged merchandise as collateral on its bank line of credit.

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bob haller

Pittsburgh, PA

#1 Feb 5, 2013
Geez JCP is a money tree for lawyers. I really hope ron looses big time, poor finances are his creation and may ultimately do what the BOD should of done already, fire him..

Thats right most shoppers not only hate the NEW JCP, they hate how you are destroying what was our favorite store..
TSN

Newport News, VA

#2 Feb 5, 2013
Me, too I am sick of JCP, Ron, a middle age man in a 20 culture, that open shirt, sweater, dyed hair, that smile, the dog and pony shows, wear a damn suit and tie, you are not anybodies buddy. Cross you, you are fired. Why does Ron think the consumer wants his ideas shoveled down their throats? Oh, it is the consumer's fault for "not getting" it, or is that not getting Ron. I get Ron, he is a one trick pony, who is grossly over payed. How much of Martha Stewart's cheap crap does your young under payed staff have to sell to pay you? Martha Stewart, can't find it at JCP, look at Kmart, they carry that brand.
There is a brand worth fighting for from Macy's.
JCP, stocked with crap we can not move, no one needs not wants, we will not put on sales, where the mannequins out number the shoppers. We are Mannequins Favorite store.
Hey that is an idea, hang check out iPads on mannequins, you wouldn't need any store staff, you could get another 2-3 million dollar bonus for that one.
About the mannequins, man those things are cheap looking and creepy over the traditional ones, what is with those faces, or lack of, no hair. This is stuff you do see in those small mall stores, where your nose hits the back wall, your ears the side walls, read, operated on a shoe string, pushing over inflated MSRP at inflated ticket price.
Guess if they are cheap, you can buy more. Now if you can only get them to stock the store, oh, wait, your vendors do this now, just like Walmart. Ah, next Ron move, fire any mannequin over the age of 32. You can always buy a new one cheaper. Got it.
Sounds like to me JCP is nothing more than a warehouse experience run as cheaply as possible, but filled with smoke and mirrors, a real fun house, place you want to "hang out" for hours.
We stopped shopping at JCP after many years, nothing, will get us back. It has left a very bad taste in my mouth. Must be that free coffee from them.
If the above description sounds like a ship of fools, with engines full forward, rudder missing, you have got Ron's visions.
So, so sad for an old name like JC Penny's, where it once stood for value not fad.

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