Retail News

Penney sale moves closer to completion

The Wall Street Journal 08/13/2020

J.C. Penney is expected to have a new owner soon and it increasingly appears as though two of its mall landlords — Simon Property Group and Brookfield Property Partners — will be the winning bidders. Simon and Brookfield joined with Authentic Brands Group to make a bid for the department store chain. ABG and Simon recently acquired the bankrupt Brooks Brothers business for $325 million.

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