{"id":746220,"date":"2013-04-12T07:07:50","date_gmt":"2013-04-12T11:07:50","guid":{"rendered":"http:\/\/www.pehub.com\/?p=195926"},"modified":"2013-04-12T07:07:50","modified_gmt":"2013-04-12T11:07:50","slug":"reuters-j-c-penney-hires-blackstone-as-advisor","status":"publish","type":"post","link":"https:\/\/mereja.com\/index\/746220","title":{"rendered":"Reuters \u2013 J.C. Penney Hires Blackstone as Advisor"},"content":{"rendered":"

J.C. Penney Co Inc.<\/strong> has hired the financial advisory arm of Blackstone Group LP<\/strong> as it explores ways to bolster its balance sheet, a source familiar with the matter told Reuters<\/em> Thursday. The ailing retailer is seeking to raise about $1 billion in cash, according to the Wall Street Journal<\/em>, which reported the news earlier. Citing sources familiar with the matter, the paper said options could include selling a minority stake in J.C. Penney and that J.C. Penney has already reached out to possible investors including private equity firms.<\/p>\n

(Reuters<\/em>) – J.C. Penney Co Inc has hired the financial advisory arm of Blackstone Group LP as it explores ways to bolster its balance sheet, a source familiar with the matter said on Thursday.<\/p>\n

The ailing retailer is seeking to raise about $1 billion in cash, according to the Wall Street Journal, which reported the news earlier. Citing sources familiar with the matter, the paper said options could include selling a minority stake in J.C. Penney and that J.C. Penney has already reached out to possible investors including private equity firms.<\/p>\n

A J.C. Penney spokeswoman said that over the last several months, the company has hired outside advisors to provide it with “expertise about how to best position the company from a financial standpoint during the transformation.”<\/p>\n

“It is safe to assume this will continue as part of the work now underway to develop a game plan for the company going forward,” the spokeswoman said in an email without confirming Blackstone as the adviser.<\/p>\n

Blackstone declined to comment.<\/p>\n

The post Reuters – J.C. Penney Hires Blackstone as Advisor<\/a> appeared first on peHUB<\/a>.<\/p>

\n<\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a>\n<\/div>","protected":false},"excerpt":{"rendered":"

J.C. Penney Co Inc. has hired the financial advisory arm of Blackstone Group LP as it explores ways to bolster its balance sheet, a source familiar with the matter told Reuters Thursday. The ailing retailer is seeking to raise about $1 billion in cash, according to the Wall Street Journal, which reported the news earlier. […]<\/p>\n","protected":false},"author":4799,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4821],"tags":[],"class_list":["post-746220","post","type-post","status-publish","format-standard","hentry","category-news"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9NivD-387O","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts\/746220","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/users\/4799"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/comments?post=746220"}],"version-history":[{"count":0,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts\/746220\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/media?parent=746220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/categories?post=746220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/tags?post=746220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}