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JCPenney purchase approved by court, on track to operate under new ownership this month

Catherine Leffert — Wed, 11 Nov 2020 00:50:10 +0000

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 d...

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JCPenney sale moves forward, exit from Chapter 11 expected before December

Ryan Salchert — Fri, 23 Oct 2020 12:31:12 +0000

The sale of J.C. Penney Co. Inc. is getting closer to the finish line, the company announced this week.

JCPenney has filed a draft asset purchase agreement (APA), which tracks the terms of its previously announced letter of intent to sell the company ...

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Mall owner Simon bids for Brooks Brothers in latest attempt to rescue retail

Anne Stych — Tue, 28 Jul 2020 19:50:07 +0000

An entity formed by major mall owner Simon Property Group and the conglomerate that operates retail brands including Aéropostale and Nautica has made a $305 million stalking horse bid to acquire Brooks Brothers, according to documents filed in the U.S....

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Simon to reopen 3 Houston-area malls Friday

Ryan Salchert — Wed, 29 Apr 2020 20:03:06 +0000

On the heels of Texas Gov. Greg Abbott's plan to reopen the Texas economy, the country's largest mall owner plans to reopen all three of its Houston-area malls starting on Friday, May 1, according to a report from CNBC.

Indianapolis-based Simon Proper...

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The Galleria, other Houston-area malls temporarily shutter amid coronavirus

Laura Gillespie — Wed, 18 Mar 2020 20:44:37 +0000

Indianapolis-based Simon Property Group Inc. (NYSE: SPG), operator of numerous malls across the United States, announced March 18 that it would close all its retail properties for a week and a half.

The Galleria, Katy Mills and Houston Premium Outlet...

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Another national mall retailer to sell assets for $81M

I-Chun Chen — Mon, 03 Feb 2020 20:29:37 +0000

National retailer Forever 21, which filed for bankruptcy protection last year, has agreed to sell its assets to a consortium of companies for $81 million in a deal that will allow it to keep stores open and continue operating.

Under the agreement, the...

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