Belk's credit rating has fallen to the lowest rating on Moody's, worse than Macy's, Khols, or JC Penny. According to Moody's, Belk has only $25 million cash on hand and massive debt load brought on by Sycamore Partners. In contrast, Macy's had $200 million in cash and still has a poor rating. If that information on Moody's is correct, Belk's outlook is very negative.
3 replies (most recent on top)
Don't want to go back to that misery
Wow. And Penny's is filing bankrupt !
Agreed hopefully everyone isn’t being naive and waiting to return to work at Belk. It’s important to continue to search for new work.