Goldman Sachs To Advise J.C. Penney Efforts To Raise Money

Goldman Sachs is acting as an advisor for J.C. Penney Co Inc. in the retailer’s efforts to raise money, possibly through a combination of debt and equity, Reuters has reported. Goldman Sachs is acting as advisor for the retailer.

Goldman this spring arranged a $2.25 billion loan for the department store chain to shore its finances after a drop in sales last year, according to Reuters.

Penney said when it reported quarterly results last month that it expected to end the fiscal year with $1.5 billion in cash.