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home / news releases / BPY - JCPenney hopes to exit bankruptcy ahead of holiday season

BPY - JCPenney hopes to exit bankruptcy ahead of holiday season

Brookfield Property Partners L.P.
J.C. Penney (JCPNQ) expects to exit Chapter 11 ahead of the holiday season after taking another step toward a sale to U.S. mall owners.Brookfield Property Partners (BPY) and Simon Property Group (SPG) would own and operate its retail assets, while 160 of its real estate properties and its distribution centers will become part of separate holding company owned by a group of its lenders.J.C. Penney has filed a draft asset purchase agreement, which gets it closer to a deal, but it is still subject to court approval and other conditions. A hearing is set for early November.

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JCPenney hopes to exit bankruptcy ahead of holiday season
Stock Information
Company Name: Brookfield Property Partners L.P.
Stock Symbol: BPY
Market: NASDAQ
Website: bpy.brookfield.com
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