The Wall Street Journal reported, citing people familiar with the matter that J.C. Penney is working with turnaround firm AlixPartners to help identify cost savings and manage cash flow as the retailer pursues a new loan to shore up its finances.
The Journal noted, according to the people, that AlixPartners is focused on ways to save money and are not pursuing a broad turnaround or restructuring plan for the company.
To read the entire Wall Street Journal article, click here.
Previously on abfjournal.com:
Fitch: JC Penney Draw on Revolver Seen as Stop-Gap Measure, Tuesday, April 16, 2013