J.C. Penney’s lenders could take it over, liquidate assets

J.C. Penney’s lenders are preparing to take control of the struggling retailer after discussions with its bidders have hit a dead end, Bloomberg News reported. J.C. Penney filed for bankruptcy May 15 and has since been in talks with large mall and retail operators, including Simon Property Group and Brookfield Property Partners. But those discussions have reached a stalemate, according to Bloomberg. If the lenders take control of the retailer it will likely lead to

source https://therealdeal.com/2020/09/01/j-c-penneys-lenders-could-take-it-over-liquidate-assets/