JCPenney Co.

PLANO, Texas — JCPenney has drawn $850 million from its $1.85 billion revolving credit line and will use the proceeds to fund working capital requirements and capital expenditures, including replenishing inventory in anticipation of the completion of for its newly overhauled in-store home departments, which are due to be unveiled next month.

NEW YORK — New York State Supreme Court Justice Jeffrey Oing on Thursday refused to dismiss Macy's Inc's claim that Martha Stewart Living Omnimedia violated its contract when it designed certain merchandise for J.C. Penney Co., regardless of whether the items carry the Martha Stewart brand.

NEW YORK — JCPenney is turning to Blackstone Group to help raise cash and better position itself financially, the Wall Street Journal reported.

The company is reportedly seeking $1 billion in cash, according to the Wall Street Journal, which added that options could include selling a minority stake. Penney already has been in contact with several private equity firms about a potential investment, according to the report.  

New York -- J.C. Penney Co. has hired the Blackstone Group explore how best to position the firm financially and help it raise cash, the Wall Street Journal reported.

The company is reportedly seeking $1 billion in cash, according to the Wall Street Journal, which added that options could include selling a minority stake. Penney already has been in contact with several private equity firms about a potential investment, according to the report.  

New York -- New York State Supreme Court Justice Jeffrey Oing on Thursday refused to dismiss Macy's Inc's claim that Martha Stewart Living Omnimedia violated its contract when it designed certain merchandise for J.C. Penney Co., regardless of whether the items carry the Martha Stewart brand.

By Ellis Verdi, president of the NYC advertising agency DeVito/Verdi

Here are the five lessons I learned from the J.C. Penney debacle — unfortunately we knew all of this before Ron took his ideas to market.

New York -- Three executives who had previously worked with Ron Johnson at Apple and then joined him at J.C. Penney have left the embattled department store chain in the wake of Johnson’s ouster, the New York Post reported.

According to the report, Mike Kramer, COO, Daniel Walker, chief talent officer, and Mike Fishe, chief creative officer, left Penney on Wednesday. The newspaper said Kramer resigned, but that it was not clear whether Walker and Fisher left voluntarily.

By Rafi Musher, [email protected]