💥JCP. SPG. GNC. UPL. I.💥

⚡️Update: J.C. Penney Company Inc.⚡️

Yesterday we went off-schedule and hastefully sent out a summary of JCP’s bankruptcy in an effort to front-run an extraordinary Saturday afternoon first day tele-hearing. ICYMI: it is here. For the most part we got it right. Debtors’ counsel, however, might take issue with our skepticism over the debtors’ alleged “Ren…