Item 7.01. Regulation FD Disclosure.
As previously reported, on June 8, 2020, J. C. Penney Corporation, Inc. ("JCP"),
as borrower, and J. C. Penney Company, Inc. (the "Company") and certain of its
subsidiaries, as guarantors, entered into a Superpriority Senior Secured
Debtor-In-Possession Credit and Guaranty Agreement (the "DIP Credit Agreement")
with the financial institutions identified therein as lenders (the "Lenders"),
GLAS USA LLC, as administrative agent (the "Administrative Agent"), and GLAS
Americas LLC, as collateral agent. Pursuant to the DIP Credit Agreement, the
Company and JCP are required to deliver to the Administrative Agent for
distribution to each Lender, among other things, the Company's consolidated
monthly financial statements and certain other financial information as
specified therein (the "Monthly Information"). Certain portions of the Monthly
Information as of and for the month ended October 3, 2020 (the "September 2020
Monthly Information") is furnished as Exhibit 99.1 to this Current Report on
Form 8-K.
The Company cautions investors and potential investors not to rely upon the
September 2020 Monthly Information, as it was not prepared for the purpose of
providing any basis for an investment decision relating to any of the securities
of the Company. The September 2020 Monthly Information does not include certain
quarterly adjustments and other important explanatory notes, has not been
audited or reviewed by any independent public accounting firm, and may be
subject to future reconciliation or adjustments, including adjustments related
to the Company's bankruptcy filing. In addition, the September 2020 Monthly
Information is limited in scope and covers a limited time period, and
accordingly, should not be viewed as indicative of future results.
The information disclosed in this Item 7.01 is being furnished and shall not be
deemed "filed" for purposes of Section 18 of the Securities Exchange Act of
1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities
of that Section, nor shall it be deemed incorporated by reference in any filing
under the Securities Act of 1933, as amended, or the Exchange Act, regardless of
any general incorporation language in such a filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibit 99.1 September 2020 Monthly Information
Exhibit 104 Cover Page Interactive Data File - the cover page XBRL tags are
embedded within the Inline XBRL document
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