Source: Forbes
Shares of J.C. Penney (JCP) are under pressure. The stock is off over 45% over the past month amid chatter the company is looking to restructure its debt. The company recently divulged it hired restructuring specialists Kirkland & Ellis and Lazard:
Penney's latest debt advisers include restructuring specialists from law firm Kirkland & Ellis LLP and investment bank Lazard Ltd (LAZ.N), according to people familiar with the hires.
The firms, which had no comment, have worked on significant workouts with other retailers, including on a debt restructuring earlier this year for