Tuesday, August 3, 2021
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J.C. Penney facing SEC inquiry on finances

🕐 1 min read

The Associated Press

Plano-based J.C. Penney says the SEC is looking into its liquidity, debt and other financial matters.

The struggling retailer disclosed in a regulatory filing late Thursday that it received a letter from the Securities and Exchange Commission in October requesting information on its liquidity, cash position, debt and equity financing, as well as its offering of common stock announced in September.

J.C. Penney Co. Inc. said it is cooperating with the SEC and providing the requested information. A representative for the company declined further comment.

The SEC did not respond immediately to a request for further details.

Shares of the department store chain fell almost 3 percent in after-hours trading.

 

Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

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