After a final week of negotiations with creditors failed to produce a life line for the ailing mass market retailer, JCP pulled the trigger this evening and filed for Ch. 11 reorganization in the Southern District of Texas bankruptcy court. The filing lists $1 to $10 billion in assets and liabilities, marking the largest retail failure since Sears’ filing a year and a half ago. Needless to say, it has been contemplating this outcome for months if not years, but the Covid-19 pandemic pushed it over the edge. JCP has lined up $450 million in DIP financing as it plans ... Log in to view full article.