Retail News

Penney expected to emerge from Chapter 11 in December

Forbes 10/09/2020

J.C. Penney debt holder Aurelius Capital has claimed that the department store chain’s sale to Simon Property Group and Brookfield Property Partners is not in its interest and wants the retailer split into an operating group run by the two mall landlords and two others for its distribution centers and 161 stores. Judge David Jones has given Aurelius a week to submit a separate bid for Penney. Either way, the department store chain is expected to emerge from Chapter 11 with new owners before the end of the year.

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