Bankruptcy court approves J.C. Penney's sale

U.S. Bankruptcy Court Judge David Jone has approved the sale of J.C. Penney in deals with Simon Property Group and Brookfield Property Partners as well as one with the retailer's primary lenders. “Our goal from the beginning of this process has been to ensure J.C. Penney will continue to serve customers for decades to come and this court approval accomplishes that objective,” said Penney CEO Jill Soltau.