belk and Jc Penny will be two of the largest department store chains owned by sycamore partners.
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Belk is not S&P. It’s Moody’s. Moody’s has, as of April 2020, downgraded Belk’s rating to Caa1, which means company has high probability of bankruptcy. A Caa1 rating is 4 above the lowest you can get.
They would not buy Jcp out right. It would be a partnership with two mall operators. And only if jcp’s current plan does not work out. Answer will come mid July.
google. “Belk risk of default” and a bunch of articles come up
Belk is privately owned, (hence no stock symbol?). The S&P reports for publicly traded inteties. So, no such report. Where are you getting your information?
Belk is in the brink of bankruptcy according to the S&P, so not only is Belk not profitable, but the company does not have enough money to pay its bills.
“Sycamore may unload Belk if they don’t find it profitable and focus on J.C. Penney.”
Sycamore purchased Belk Fall ‘15. As an associate of Belk, do you think we’re no longer a profitable business? We were a profitable business when purchased. All employees received quarterly statements.
Someone earlier suggested that Harper did something with carpet.. but I think that post might have been deleted for being too close to home, if you know what I mean.
They used to refer to those people as carpet baggers.
Something dramatic is about to happen, everyone (including customers) can see the company is in bad shape.
If you’ll notice that stock levels have drastically dropped along with profit margins
Sycamore may unload Belk if they don’t find it profitable and focus on jc Penny
Interesting. How do you think a purchase of J.C. Penney will impact us associates of Belk?