J.C. Penney Looks For A $500 Million Loan

J.C. Penney Company, Inc. (NYSE:JCP) is in talks with financiers to secure a $500 million loan that would shore up the company's cash reserves. The firm has been in the center of a crisis lately, firing CEO Ron Johnson and replacing him with his predecessor while struggling to keep its day to day cash flow in check.

The retail giant is in talks with a group of financiers led by Wells Fargo & Company (NYSE:WFC) to secure the loan that sources close to the matter said would be worth around $500 million. Other financiers involved...