Day: June 6, 2020

Exclusive: Buyout firm Sycamore Partners in talks to buy J.C. Penney

By Mike Spector and Jessica DiNapoli

NEW YORK (Reuters) – Private equity firm Sycamore Partners is in preliminary talks to acquire J.C. Penney Co Inc <JCP.N> out of bankruptcy should the U.S. department store chain’s negotiations with its creditors fail, three people familiar with the matter said on Friday.

J.C. Penney, which employs roughly 85,000 people, filed for bankruptcy protection in May after the coronavirus pandemic forced it to temporarily close its more than 800 stores across the United States, compounding financial woes that stemmed from years of dwindling sales.

Sycamore is weighing acquiring J.C. Penney outright or making an

Ordinances on inter-state farm trade, contract farming out of judicial process

Farmers under the new Central law will now have freedom to sell their produce in any market.

State governments can’t tax farm trade under the new central law for inter-state trade that virtually allows farmers to sell their produce anywhere in the country without being impeded by the APMC mandis, according to the Ordinance issued on Friday. Via another Ordinance, farmers would get share of post-contract price surge, after they sign agreements of contract farming with private players. Also, they will have the cover of minimum guaranteed price if open market/mandi rates fall drastically.

While farmers under the new Central

Planters seek moratorium on rubber imports

The opening stock of NR as on April 1, 2020, in the country estimated at 3.4 lakh tonne

The United Planters Association of Southern India (Upasi), the apex body of south Indian planters, on Friday requested the Centre for an immediate moratorium on natural rubber (NR) import for a minimum period of two years to help the 1.32 million rubber growers. In a letter to the Union commerce and industry and railway minister Piyush Goyal, AL RM Nagappan, president of Upasi, stated the current status of NR farmers who have been going through a severe crisis due to the steep