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J.C. Penney’s Suitors Circle in Bankruptcy Process

Click here to read the full article. ” data-reactid=”19″>Click here to read the full article.

J.C. Penney Co. Inc. is still up for grabs — but the clock is ticking. ” data-reactid=”20″>The future of J.C. Penney Co. Inc. is still up for grabs — but the clock is ticking. 

coronavirus shutdown and filed for bankruptcy on May 15, a series of would-be buyers have come calling. ” data-reactid=”21″>Since the value department store became an early victim of the coronavirus shutdown and filed for bankruptcy on May 15, a series of would-be buyers have come calling. 

J.C. Penney’s potential. ” data-reactid=”28″>Each would have their own take on J.C. Penney’s potential. 

Amazon is said to have looked at some of the company’s real estate with land that could be converted to a distribution center and some think the suitor could also be interested in the retailer’s private label business.” data-reactid=”29″>Amazon is said to have looked at some of the company’s real estate with land that could be converted to a distribution center and some think the suitor could also be interested in the retailer’s private label business.

bankruptcy given how much space the retailer occupies in malls. ” data-reactid=”31″>And ABG, an intellectual property specialist and flexible dealmaker, could help the landlords manage through a difficult bankruptcy given how much space the retailer occupies in malls. 

bankruptcy court’s approval for an extension until July 13 to pay some $34 million in rent for the months of June and July. The company is seeking longer-term relief from landlords for both monetary and non-monetary lease modifications, its attorney Aparna Yenamandra of Kirkland & Ellis LLP has told the court. ” data-reactid=”33″>Last week, the retailer formally received the bankruptcy court’s approval for an extension until July 13 to pay some $34 million in rent for the months of June and July. The company is seeking longer-term relief from landlords for both monetary and non-monetary lease modifications, its attorney Aparna Yenamandra of Kirkland & Ellis LLP has told the court. 

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