In the Wall Street Journal
- J.C. Penney is in advanced talks for bankruptcy funding with a group of lenders
- in discussions with existing lenders including Wells Fargo & Co., Bank of America Corp. and JPMorgan Chase & Co. for a so-called debtor-in-possession loan that would keep the department-store chain's operations funded during a court-supervised bankruptcy, according to people familiar with the matter.
- The loan package could total roughly $800 million to $1 billion,
Economic shock waves from the coronavirus response in the US continue. This sort of news is a not a positive input for US stocks and 'risk' in general.