By and  on April 26, 2013

Shares of J.C. Penney Co. Inc. raced ahead 13.2 percent in late afternoon trading today to $17.25, benefiting from both a report of new financing and the recently revealed backing of George Soros.

CNBC reported that Goldman Sachs had rounded up a $1.75 billion real estate and asset-backed loan for the struggling retailer. Spokeswomen for Penney’s and Goldman Sachs both declined comment.

To access this article, click here to subscribe or to log in.

load comments
blog comments powered by Disqus