J.C. Penney has need for speed in bankruptcy, lawyer says

(Reuters) - J.C. Penney Co Inc needs to exit bankruptcy proceedings in just a matter of months to survive the unprecedented financial strain of prolonged store closures due to the COVID-19 pandemic, a lawyer for the iconic U.S. department store chain said during a court hearing on Saturday."This company needs to move incredibly quickly through this restructuring. If we don't, the results could be disastrous," said Joshua Sussberg, a Kirkland & Ellis LLP lawyer representing the retailer. He..