Plan to only keep 250 doors open and convert them to Belk, liquidate the rest.
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Jill has her 4.5 million dollar bonus pre bankruptcy. She’ll be fine.
So it saying it’s only keeping 250 stores the rest will close??? Please clarify that and Jill is ok with that???
Belk's recently down graded credit rating by Moodys put Belk in a risk for bankruptcy. There are Belk vendors who have not been paid or told when they will be paid.
Belk is in danger of bankruptcy too I think.
Probably smart of Sycamore to close even more JCP locations. This proposed merger is odd because Belk isn't exactly lighting it up, either. Belk doesn't have much brand recognition outside of the Southeast US.
Looks like the JCP brand is fading away, one way or another.