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Bankruptcy court approves JCPenney property plan

2020-11-26 11:27:00| Daily apparel & textile news and comment - from just-style.com

A US bankruptcy court has approved JCPenney's plan to create separate property holding companies for its 160 of its real estate assets and all of its owned distribution centres. The so-called 'PropCos' are expected to complete the restructuring process and emerge from Chapter 11 bankruptcy protection in the first half of 2021.

Tags: plan property court bankruptcy

 

JCPenney looks to 'styleisure' to bolster comeback

2020-11-13 11:20:00| Daily apparel & textile news and comment - from just-style.com

JCPenney is looking to tap the booming athleisure market with the launch of a new "styleisure" apparel line that it hopes will appeal to consumers working from home and seeking more comfortable clothing.

Tags: comeback bolster jcpenney

 
 

JCPenney sale gets green light

2020-11-11 10:24:00| Daily apparel & textile news and comment - from just-style.com

JCPenney is on track to begin operating under new ownership and outside of Chapter 11 by late November after a US bankruptcy court approved its sale agreement with Brookfield Asset Management, Simon Property Group and a majority of its lenders.

Tags: sale light green jcpenney

 

JCPenney to emerge from Chapter 11 under new owners

2020-10-29 11:59:00| Daily apparel & textile news and comment - from just-style.com

JCPenney has inked an asset purchase agreement (APA) with Brookfield Asset Management, Inc Simon Property Group, and a majority of its lenders in a move that paves the way for the completion of its financial restructuring.

Tags: new under owners chapter

 

JCPenney inks bankruptcy rescue deal

2020-09-10 11:49:00| Daily apparel & textile news and comment - from just-style.com

JCPenney has struck a deal with Brookfield Property Group and Simon Property Group through which the firms will acquire substantially all of the US retail giant's retail and operating assets for US$1.75bn.

Tags: deal rescue bankruptcy inks

 

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