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Tag: jcpenney
JCPenney strikes 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
strikes
JCPenney lenders ask bidders to up offers?
2020-08-06 18:45:00| Daily apparel & textile news and comment - from just-style.com
A group of lenders managing the bankruptcy process of US retail giant JCPenney are reportedly asking interested buyers to up their bids after offers made in July were deemed too low.
Tags: up
offers
lenders
bidders
JCPenney to slash 1,000 jobs and shutter 152 stores
2020-07-16 14:00:00| Daily apparel & textile news and comment - from just-style.com
JCPenney is to axe about 1,000 jobs and close 152 stores as the US retail giant proceeds with plans to emerge from both Chapter 11 and the coronavirus pandemic as a smaller, more financially flexible company.
Tags: jobs
stores
slash
shutter
Sycamore Partners to make play for JCPenney?
2020-06-09 14:32:00| Daily apparel & textile news and comment - from just-style.com
Sycamore Partners, the private equity firm that was meant to acquire the Victoria's Secret brand from L Brands until the deal was axed recently, is reportedly in talks to acquire department store JCPenney, a move that would pull the firm out of bankruptcy.
Tags: make
play
partners
sycamore
JCPenney to shutter 154 stores in first wave of closures
2020-06-05 12:41:00| Daily apparel & textile news and comment - from just-style.com
Bankrupt US retail giant JCPenney is to shutter 154 stores as it proceeds with plans to emerge as a smaller department store chain, with additional closures expected in the coming weeks.