JCPenney, Simon Property and Brookfield reach deal: report
September 09, 2020 at 15:50 PM EDT
Simon and Brookfield, J.C. Penney’s landlords, will reportedly own about 490 of the retailer’s remaining 650 stores. Meanwhile, a group of lenders will own 160 locations as well as the retailer’s distribution centers in return for forgiving some of JC Penney’s $5 billion in debt.