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Celebrity Fashion News

J.C. Penney Stock Falls On Bankruptcy Rumor

(Reuters) - A J.C. Penney Co Inc spokeswoman denied a market rumor on Tuesday that the department store chain had hired bankruptcy counsel, as shares slid as much as 8.3 percent.

Penney spokeswoman Kristin Kays said there was "no truth to the rumor," origins of which were unclear.

Shares were down 7.4 percent to $7.29 in afternoon trading in heavy selling, including a high number of large block trades.

Some 32.5 percent of Penney shares are held short by investors betting against the company's stock rising, making the issue volatile.

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What We're Buying: Killer Motorcycle Boots, a Super-Smart Jacket, a Glam Jumpsuit and More!

Perhaps the only thing we love more than shopping is sharing our new finds with you. This week, we meet a model-slash-foodie (yes, they exist) who introduces us to the best pair of moto boots, ever plus rounded up some of our latest purchases, which range from affordable to glamorous to do-gooding. Check them all out after the jump!

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