|Bid||0.0000 x 900|
|Ask||0.0000 x 900|
|Day's Range||0.1670 - 0.2325|
|52 Week Range||0.1112 - 1.2600|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 22, 2020 - May 28, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.00|
In this week's episode of Influencers, Andy is joined by Avenue Capital Group CEO and Milwaukee Bucks Co-Owner, Marc Lasry, as they discuss the pandemic's impact on the global economy, why he's throwing his support behind Joe Biden, and the return of the NBA.
Avenue Capital Group CEO and legendary investor, Marc Lasry, joins 'Influencers with Andy Serwer' to discuss the 2020 Presidential race.
Avenue Capital Group CEO and legendary investor, Marc Lasry, joins 'Influencers with Andy Serwer' to discuss the pandemic's impact on the global economy.
Yahoo Finance’s Brian Sozzi and Alexis Christoforous discuss the current state of retail with Forrester Retail Analyst Sucharita Kodali.
It is gearing up to be a busy Wednesday, and investors will be turning their attention to the ADP June private employment report, the Institute for Supply Management’s (ISM) manufacturing index reading for June and Macy’s quarterly results.
Nick Shields, Senior Analyst at Third Bridge, joins The First trade to discuss the states of malls as some reopen amid continually rising cases of coronavirus.
On Friday, a number of major public corporations across a variety of industries will observe Juneteenth as a company holiday.
With the job market kicking back into gear after the worst of the COVID-19 pandemic, Target looks to attract new workers to meet demand.
Yahoo Finance’s Alexis Christoforous and Brian Sozzi react to the May retail sales number with Columbia Business School Professor Mark Cohen.
According to sources said to have direct information, J.C. Penney (NYSE: JCP) may be currently working out a deal to be bought out by its own landlords, Brookfield Property Partners (NASDAQ: BPY) and Simon Property Group (NYSE: SPG). A third company, privately held Authentic Brands Group, LLC, is apparently in alliance with the retailer's landlords to work out an acquisition deal. J.C. Penney recently declared Chapter 11 bankruptcy after store closures from the COVID-19 pandemic sent its already struggling operations into a tailspin.
(Bloomberg) -- The two largest mall landlords and Authentic Brands Group LLC are in talks to buy bankrupt department-store chain J.C. Penney Co., according to people familiar with the matter.Authentic Brands may team up with Simon Property Group Inc. and Brookfield Property Partners LP to acquire the retailer as part of its court reorganization, said the people, who asked not to be identified because the talks are private. The discussions are still fluid and may ultimately end without a deal.J.C. Penney, which filed for Chapter 11 protection in May, has been racing to firm up a business plan by a July 14 deadline, after which the company risks running out of cash to finance its reorganization and emerge from bankruptcy court. The company’s proposed exit plan involves creating two new publicly traded entities, including a real estate investment trust that would hold some of the retailer’s property.For the landlords, buying J.C. Penney would ensure the survival of one of their most ubiquitous tenants amid a wave of retail distress that has seen thousands of stores close permanently. That’s in addition to the pandemic lockdown that shuttered most retailers for months nationwide.Authentic teamed up with Simon and Brookfield to buy teen clothing chain Forever 21 out of bankruptcy earlier this year. And Authentic and Simon are also in discussions with Brooks Brothers Inc. on a joint bid that would be part of a potential bankruptcy filing by that clothing retailer, Bloomberg News reported last week.Brookfield, the second-largest U.S. mall operator after Simon, in May announced the creation of a $5 billion fund to buy stakes in retailers.Authentic also owns Aeropostale after teaming up with the mall landlords to buy that brand out of bankruptcy in 2016. Its growing portfolio could be a boon to J.C. Penney if licensed product from those retailers were added to the department store’s lineup.Private equity firm Sycamore Partners has also held preliminary talks to buy J.C. Penney, weighing an acquisition outright or making an investment in the retailer, Reuters reported earlier this month.J.C. Penney’s remaining value includes its owned real estate and intellectual property from its private brands, according to David Silverman, a retail analyst at Fitch Ratings.“The different companies that are potentially looking into J.C. Penney have different capabilities and options given the real estate that J.C. Penney has and the suitors’ potential use with it,” Silverman said.(Adds context on company’s reorganization plan in third paragraph and commentary from an analyst in the last paragraph. A prior version of this story corrected timing of Brookfield fund announcement in the sixth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Recently, shares of companies in severe financial distress — including Chapter 11 bankruptcy — have been very popular for day traders, a sign that has many concerned.
Simon Freakley, AlixPartners CEO, joins Yahoo Finance's Alexis Christoforous and Brian Sozzi to discuss the outlook for retailers as they struggle to find the road to recovery following COVID-19.
Maneuvering continues among various parties as J.C. Penney (NYSE: JCP) attempts to navigate its recent Chapter 11 bankruptcy and emerge on the other side as a viable, operational retailer. In the latest public development, bankruptcy judge David Jones has ordered the company to pay $250,000 to an informal shareholder's group, defusing an attempt by the shareholders to have the bankruptcy reversed entirely. Arguing that bankruptcy is an absolute necessity for the company, J.C. Penney's lawyer Joshua Sussberg says disallowing Chapter 11 protection "would have left the company on a desolate island without a chance for survival."
Simon Property Group and Brookfield Property REIT are reportedly interested in buying the bankrupt department store chain to prevent the disappearance of a key anchor tenant.
Having recently disentangled themselves from an acquisition deal to buy the ailing Victoria's Secret brand from L Brands (NYSE: LB) for $525 million, New York private equity firm Sycamore Partners may now be zeroing in on bankrupt retailer JC Penney (NYSE: JCP). Reuters reports knowledgeable sources say that Sycamore is sizing up its chances to buy JC Penney, or invest in it without an outright acquisition. The news is yet another twist in the ever more complex web of deals, offers, and legal maneuvers surrounding JC Penney's attempts to navigate bankruptcy and emerge as a viable retail company on the other side.
Private equity firm Sycamore Partners is in preliminary talks to acquire J.C. Penney Co Inc <JCP.N> out of bankruptcy should the U.S. department store chain's negotiations with its creditors fail, three people familiar with the matter said on Friday. J.C. Penney, which employs roughly 85,000 people, filed for bankruptcy protection in May after the coronavirus pandemic forced it to temporarily close its more than 800 stores across the United States, compounding financial woes that stemmed from years of dwindling sales. Sycamore is weighing acquiring J.C. Penney outright or making an investment in the troubled retailer, the sources said.