J.C. Penney seeks to restructure debt Unlisted Video

Reuters reports that J.C. Penney Co Inc has hired advisers to explore debt restructuring options.
The company is hoping to buy more time to forge a turnaround, people familiar with the matter said on Thursday.
The clock is ticking for the company.
Its cash coffers are dwindling and its debt, totaling roughly $4 billion, comes due in the next few years.