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Aggressive tactics are seeping into bankruptcy financing
...The firm had loaned money to the likes of Toys R Us and JC Penney, reporting that such retail loans produced an annualised return exceeding 20 per cent....
...There are eight here, ranging from the Zenia app for better Yoga posture, Kaia Health’s smartphone camera-based AI app to help with injury rehab, and Humanity, which combines a range of available data (such...
...The online financial conglomerate SBI Holdings has launched a potentially hostile $1.1bn stakebuilding exercise in Shinsei Bank, whose stunning private-equity rescue by JC Flowers 21 years ago reshaped the...
...The $41.7bn in annual sales it pulled in before Covid-19 were almost equal to those of Nordstrom, JC Penney and Gap combined. Its $84bn market value dwarfs that of Macy’s by 17 times....
Simon Property Group and Brookfield win approval to buy US store chain out of bankruptcy
...The Fed’s liquidity could not save JC Penney and Neiman, both of which defaulted last year....
Amid the retail reckoning, the mall landlord is buying up its tenants
...Shares in Hertz, the car hire group, and JC Penney, the US retailer, have more than doubled in value since the start of the month despite both companies wading through bankruptcy proceedings that could end...
How the coronavirus outbreak has accelerated the demise of US department stores
...Ant Group’s mega-IPO prompts investor dash for shares (FT) Moderna rakes in over $1bn in deposits for potential Covid vaccine (FT) WeWork’s new CEO is eyeing an IPO again — after he turns profit (BBG) JC...
...Four big department store chains — JC Penney, Neiman Marcus, Stage Stores and Lord & Taylor — filed for bankruptcy during the pandemic. Mall traffic has collapsed....
US department store is latest retailer to be pushed over the edge by lockdowns
Putting zombie retailers to rest will give the wider sector a chance to breathe easier
Department store chain’s move is starkest sign yet of distress in US retail sector
...JC Penney’s competitor Sears, after years among the undead, declared bankruptcy in 2018. Many of its stores remain open....
...JC Penney — one of several retailers that entered bankruptcy during the coronavirus shutdowns and which has also drawn the attention of retail investors — also fell sharply on Wednesday, down more than 22...
...BPY is best known for its investments in “trophy” office properties, such as Canary Wharf in London or Lever House in New York, as well as its “core retail” malls with storied tenants such as JC Penney....
...Other distressed companies including JC Penney, Whiting Petroleum and Chesapeake Energy experienced similar volatility....
JCPenney shares plunge after company delivers ‘more gloom than the grinch’
...Hertz might be the most well-known but Robinhood users have also helped to resurrect the likes of JC Penney (bankrupt), Whiting Petroleum (also bankrupt) and Chesapeake (almost bankrupt)....
...JC Penney did not immediately respond to the Financial Times’ request for a comment on the matter....
...Airbnb raises another $1bn in debt, IPO prospects diminish (BBG) Hedge funds urge EU regulators to scrap short-selling curbs (FT) Howard Marks’s Oaktree seeks $15bn for biggest distress fund ever (BBG) JC...
...Kohl’s stock closed down 12 per cent and JC Penney 7 per cent. Nordstrom dropped 9 per cent in trading after the bell....
...A version of this article was first published by Nikkei Asia on October 14 2020. ©2020 Nikkei Inc....
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