J.C. Penney bankruptcy plan approved by judge

A U.S judge has approved a deal to allow J.C. Penney to emerge from bankruptcy, preventing a massive liquidation of the retailer’s stores. A federal bankruptcy judge in Texas approved the deal on Monday, Reuters reported. As part of the deal, Simon Property Group and Brookfield Asset Management will acquire the struggling retailer for about $1.75 billion in cash and debt. The deal will allow a group of lenders led by H/2 Capital Partners to

source https://therealdeal.com/2020/11/10/j-c-penney-bankruptcy-plan-approved-by-judge/