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J.C. Penney on track for Chapter 11 exit before holiday shopping season

Added 11-10-20 05:04:02pm EST - “JCPenney's retail and operating assets to be acquired by Brookfield Asset Management and Simon Property Group.” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “J.C. Penney on track for Chapter 11 exit before holiday shopping season”. Below is an excerpt from the article.

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JCPenney's lifeline is getting stronger as a rescue comes together before the key holiday shopping season.

After a lengthy court hearing on Monday, the 118-year-old retail giant has received approval from the U.S. Bankruptcy Court for the Southern District of Texas on its previously announced asset purchase agreement with Brookfield Asset Management and Simon Property Group.

BANKRUPT PIZZA HUT AND WENDY'S FRANCHISEE, NPC INTERNATIONAL, PLANS TO SELL ITSELF TO PANERA OPERATOR

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