part of J.C. Penney exits chapter

Retail information

Forbes

Most of J.C. Penney’s outlets are set to exit Chapter eleven bankruptcy, with Simon Property group and Brookfield Capital companions because the new owners of the retail chain. The same, despite the fact, isn’t yet proper for a hundred and sixty Penney locations and its distribution centers as the would-be purchaser, PropCo.1, has yet to finalize a courtroom-authorised plan. as it stands, Penney’s operations will exit bankruptcy next yr. The constituents of the newly-divided business have agreed to work together when that occurs.

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