JCPenney, Simon Property and Brookfield reach deal: report
Simon and Brookfield, J.C. Penney’s landlords, will reportedly own about 490 of the retailer’s remaining 650 stores. Meanwhile, a group of lenders will own 160 locations as well as the retailer’s distribution centers in return for forgiving some of JC Penney’s $5 billion in debt.
via FOX BUSINESS NEWS Markets
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