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SHLDQ - Tariffs Could Push J.C. Penney Into Bankruptcy
Sears Holdings Corporation
Putting 25% tariffs on a wide variety of products that J.C. Penney Company (JCP) sells could be the final straw that forces the company to file for Ch.11 bankruptcy in order to deleverage and reorganize into potentially new profitable retailer. In addition, there is about $123 million of interest and principal payments due in September/October, which could be an incentive to file on or about October 1 for bankruptcy, instead of sending more much needed cash out the door. The latest quarterly results were poor and the company only had $171 million cash