Sale of J.C. Penney approved by bankruptcy court, giving the retailer a second chance

Features

Sale of J.C. Penney approved by bankruptcy court, giving the retailer a second chance
 
Published Wednesday, November 11, 2020
by Maria Halkias

Just in time for the holiday's! J.C. Penney is likely to exit bankruptcy by this Thanksgiving. The company had a 10-hour hearing Monday to approve the sale of the retailer to its primary lenders and two biggest landlords, Simon Property Group and Brookfield Property Group. The court decided that the company still has value to its employees, landlords and vendors. Penny will exit bankruptcy and receive the chance to recover from the pandemic. 

Click the link below to read the full article on The Dallas Morning News:
http://ow.ly/gLIK50Ch5Pg

Photo by Kiy Turk on Unsplash


Send this page to a friend

Recent News

‘The floodgates have opened’: 2020 sees surge of business transplants to South Florida

While COVID may be a catalyst, core reasons for coming to South Florida remain solid: access, taxes and lifestyle.

Publix Pursues Vision of Service and Ownership

Todd Jones may be the CEO of Publix Super Markets, but it’s clear that he’s never let that title, or any executive position before it, get in the way of understanding the intricacies of the grocery business.

Walmart earnings top expectations as customers’ new shopping habits send e-commerce sales soaring 79%

“We think these new customer behaviors will largely persist and we’re well positioned to serve customers with the value and experience they’re looking for,” Walmart CEO Doug McMillon said in a news release.