If Macy's is really desperate, perhaps one of their strategies is to gamble that passing out a bunch of CLs to it's cardholders will boost sales and stave off a buyout.
If you've been thinking about a Macy's CC, perhaps now is the time to strike. If Macy's did fall to a buyout, it's likely it would take years, and even then it's likely the CC would remain in whatever form the store ended up taking. Still a positive TL you could acquire and benefit from for a time, at least.
If you're thinking about applying for ANY CC, it probably wouldn't hurt to look up the CCC on google finance. If the CCC is hurting or struggling financially--not just a buyout, sales down, profits not meeting target, etc.--they might be more lax in their approval standards at that time.
My mother has a Macy's card...actually it was Foleys and I guess they were bought out. It's on her CR as a good TL. It has $100 CL and hasn't been used in years. I was going to write a letter to them for her asking for a new card with a CLI (My mother is deaf so I do alot of the writing and talking on the phone for her) but after seeing this maybe we'll just let sleeping dogs lie for awhile
I have an old Macy's that's still open on my CRs. Think it was originally Dillards from when I lived in Florida. I've written twice asking to get the CC reissued, and heard nothing back. Think I'm gonna give 'em a call.