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SEC looking into J.C. Penney’s finances

J.C. Penney operates more than 1,100 stores in the US.
J.C. Penney operates more than 1,100 stores in the US.Reuters

J.C. Penney Co. said the SEC is looking into its liquidity, debt, and other financial matters. The retailer disclosed in a regulatory filing that it received a letter from the SEC in October requesting information on its liquidity, cash position, debt and equity financing, as well as its offering of common stock announced in September. The Texas-based chain, which has at least a half-dozen locations in Massachusetts, said it is cooperating. A company official declined to comment further.