The survival of J.C. Penney Co Inc hangs on whether the department store chain can reach a complex deal within days to sell itself to an alliance of retail mavens and distressed-debt investors.
FILE PHOTO: A JC Penney store is shown in Oceanside, California, U.S., July 31, 2019. REUTERS/Mike Blake/File Photo
The company is hoping to file court papers as soon as this week disclosing details of a deal, though the timing could slip, said a person familiar with the matter. The retailer declined to comment. “For this to work, we are going to need to move with complete and deliberate speed,” Joshua Sussberg, a Kirkland & Ellis LLP lawyer representing J.C. Penney, said during a Wednesday court hearing.
On July 22, J.C. Penney received three separate bids for its operating business from private-equity firm Sycamore Partners, Saks Fifth Avenue owner Hudson’s Bay Co and a duo of mall owners comprising Simon Property Group Inc and Brookfield Asset Management Inc, people familiar with the matter said. J.C. Penney is negotiating with the other bidders to “slot into” that deal by purchasing the retailer’s operating business while the lenders take over two property companies that would hold stores and distribution centers, respectively, he said.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Apple and Amazon’s Race to $100 BillionHeard on the Street: Amazon's Prime Day and Apple's delayed iPhone launch could mean a $100 billion sales quarter for each tech giant
続きを読む »
Nordstrom Anniversary Sale Preview: 9 Items to Add to Your List - E! OnlineThese are the deals we're snatching up as soon as the sale starts.
続きを読む »
The 1975, Niall Horan, Little Mix & More U.K. Artists and Music Industry Figures Unite Against Racism, AntisemitismHundreds of key players in the U.K.&39;s music industry, including artists, managers, producers and record labels, are co-signing an urgent call to speak out against racism and intolerance.
続きを読む »
WSJ News Exclusive | Microsoft and Bytedance Put TikTok Talks on Hold After Trump Signals OppositionMicrosoft has paused negotiations to buy the U.S. operations of TikTok after President Trump said he opposes the deal, say people familiar with the matter
続きを読む »