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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. 

Tags: of stores wave closures

 

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