JCPenney purchase approved by court, on track to operate under new ownership this month
J.C. Penney (NYSE: JCP) is slated to begin operating under new ownership by late November after the U.S. Bankruptcy Court approved an asset purchase agreement, the company announced Nov. 9.
In September, the Plano, Texas-based retail giant reached a deal to sell its retail business and mall operators to Simon Property Group (NYSE: SPG) and Brookfield Property Partners (Nasdaq: BPY), two major U.S. mall operators, after filing for Chapter 11 protection in May due to unprecedented changes caused byâŠ
