Dive Summary:

• Despite first being rejected for a charismatic new chief executive, Myron Ullman and the executives that that still remain from Ron Johnson’s staff believe they have “entered the endgame” of JCP.
• Myron Ullman has withdrawn $850 million line of credit for day-to-day operations arranged prior by former CEO and Apple store guru, Ron Johnson.
• JCP customers can likely be prepared to see a return of JCP’s traditonal approach with regards to merchandise and sales prior to Johnson tenure, when many of the previous aspects of the brick-and-mortar stores were discontinued.

From the article:

JCPenney is also looking into other ways of raising money, including borrowing against its real estate holdings, according to Bloomberg. It could spin off real estate into a new subsidiary that could issue debt, the publication said, or sell real estate and lease property back. Other assets such as inventory could be used as collateral.