J.C. Penney facing SEC inquiry on finances

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Associated Press

Posted on December 6, 2013 at 1:01 AM

Updated Friday, Dec 6 at 1:02 AM

J.C. Penney says the SEC is looking into its liquidity, debt and other financial matters.

The struggling retailer disclosed in a regulatory filing late Thursday that it received a letter from the Securities and Exchange Commission in October requesting information on its liquidity, cash position, debt and equity financing, as well as its offering of common stock announced in September.

J.C. Penney Co. Inc. said it is cooperating with the SEC and providing the requested information. A representative for the Plano, Texas, declined further comment.

The SEC did not respond immediately to a request for further details.

Shares of the department store chain fell almost 3 percent in after-hours trading.

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