Troubled retailer J.C. Penney on Thursday said that reports claiming CIT Group Inc, the largest lender in the apparel industry, had stopped funding shipments were untrue. The chain affirmed it has plenty of cash on hand and all major suppliers were still shipping. Penney also said it expects to have $1.5 billion in cash on […]
Troubled retailer J.C. Penney on Thursday said that reports claiming CIT Group Inc, the largest lender in the apparel industry, had stopped funding shipments were untrue. The chain affirmed it has plenty of cash on hand and all major suppliers were still shipping. Penney also said it expects to have $1.5 billion in cash on hand for the quarter just ending.
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