I hate saying I told you so. No I don’t. I love saying I told you so. I wrote my first article about JC Penney being a future bankruptcy in early 2012.
I’ve written multiple posts since then.
The Wall Street shysters have continued to tout this piece of shit as a buy the whole way down. The stock is now down 45% on the year and down 75% since I wrote my first article warning of their demise. They are done. Their suppliers will not supply them with the inventory they need for Christmas unless they get paid up front. JC Penney is hemorrhaging cash. They don’t have it. They will be filing for bankruptcy shortly after their horrible holiday sales hit the presses.
There will be 1,100 vacant rotting hulks in dying malls across America. Maybe they can be converted into Soup Kitchens R Us. That is where the 150,000 JC Penney employees will be going after they get fired in the next six months. The fat lady is belting out a tune.
JCP Craters To Single-Digits As Specter Of Bankruptcy Filing Rises
Submitted by Tyler Durden on 09/25/2013 10:39 -0400