Stock in J.C. Penney Company, Inc. (NYSE:JCP) lost more than 11% on today’s market after a new report form Goldman Sachs Group Inc (NYSE:GS) on the company’s credit spelled out a less than utopian future for the retailer. Hedge fund managers betting on the company’s stock over the last year have been losing money wholesale, and the problems may not be getting better any time soon.

J.C. Penney

Bill Ackman, who led the charge on turning J.C. Penney Company, Inc. (NYSE:JCP) around, bowed out of that trade at the end of August. He took a more than a $400 million loss on the bet, and admitted his mistakes in getting involved in the company in the first place.

Hedge fund managers losing out

Ackman’s Pershing Square isn’t the only hedge fund involved at J.C. Penney Company, Inc. (NYSE:JCP), and many of the big players are still holding stock in the company. A report form Forbes this morning takes a look at some of the biggest hedge fund managers still losing out on J.C. Penney Company, Inc. (NYSE:JCP) stock.

George Soros is probably the most well known investor in J.C. Penney Company, Inc. (NYSE:JCP). The legendary hedge funder owns about 9% of the company. Larry Robbins, head of Glenview Capital, bought up around the same amount of stock in the company.

Other big investors in J.C. Penney Company, Inc. (NYSE:JCP) include Richard Perry’s Perry Capital, which owns around 8.6% of the company and Kyle Bass’ hedge fund Hayman Capital, which owns just over 5% of the struggling retailer.

JC Penney stock bust

J.C. Penney Company, Inc. (NYSE:JCP) has not lived up to the hopes of the big investors involved in the company. This morning’s hit from the Goldman Sachs report is just the latest in a series of collapses in the value of the company. Since the start of 2013 stock in J.C. Penney has lost more than 47% of its value.

The stock’s twelve month high was recorded last October, and it’s creeping up on the stock once again. A small resurgence in the Summer months ended in a slow slide toward today’s collapse in the share price.

According to Goldman Sachs Group Inc (NYSE:GS), J.C. Penney Company, Inc. (NYSE:JCP) will need to borrow more money in order to keep its business running day to day. After the trouble the bank had the last time it needed a loan, there may be rough days ahead for J.C. Penney.