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JCPenney Receives Court Approval of “First Day” Motions to Support Business Operations

PLANO, Texas--(BUSINESS WIRE)--J. C. Penney Company, Inc. (NYSE: JCP) today announced that it has received approvals from the U.S. Bankruptcy Court for the Southern District of Texas, in Corpus Christi, TX (the “Court”) for the “First Day” motions related to the Company’s voluntary Chapter 11 petitions filed on May 15, 2020, including approval for the Company to access and use its approximately $500 million in cash collateral.