J.C. Penney Stares At Liquidity Crunch In 2014

J.C. Penney Company, Inc. (NYSE:JCP) is set to face a net liquidity gap of $761 million in 2014 as against $853 million surplus in 2013, according to a recent Citigroup report. Deborah L Weinswig and Nathan Rich of Citi in their recent updated report on the department store retailer’s cash burn analysis highlights the retailer would end up with surplus cash in 2013, thanks to its tying up for term loan and revolver borrowings. J.C. Penney downgraded by Citi In a report last week, Deborah L Weinswig and Nathan Rich of Citi downgraded the retailer from Neutral to Sell as they…