Markets

Real estate billionaire David Simon is facing a make-or-break moment whether he can reinvent his mall business with a controversial bet on JCPenney

Real estate titan David Simon is set alongside another large landlord to acquire JCPenney’s brand and operations, including 550 stores it owns or leases. It’s Simon’s largest push yet beyond owning malls into possessing the retail businesses that occupy them, a divide few owners have crossed. Mounting a turnaround of […]
Real estate billionaire David Simon is facing a make-or-break moment whether he can reinvent his mall business with a controversial bet on JCPenney
News

JCPenney is being rescued by a tentative deal struck with its mall landlords

JCPenney is being acquired by mall owners Simon Property Group and Brookfield Property Partners, lawyers said in bankruptcy court on Wednesday. The deal is still subject to approval by a bankruptcy court judge. JCPenney filed for Chapter 11 bankruptcy on May 15. Visit Business Insider’s homepage for more stories. JCPenney’s […]
JCPenney is being rescued by a tentative deal struck with its mall landlords
Markets

A record 46 billion-dollar companies have filed for bankruptcy in the US this year as the pandemic continues to wreak havoc and its far from over, say experts

A record 46 companies with at least $US1 billion in assets have filed for Chapter 11 bankruptcy this year, the Financial Times reported, citing BankruptcyData.com. The previous record was 38 billion-dollar businesses during the same period of 2009. JCPenney, Brooks Brothers, and Chesapeake Energy are among the big companies that […]
A record 46 billion-dollar companies have filed for bankruptcy in the US this year as the pandemic continues to wreak havoc and its far from over, say experts
News

Department stores are shutting down across the US — here’s the list of stores that Macy’s, Nordstrom, JCPenney and others have announced for closure

Department stores including JCPenney, Neiman Marcus, and JCPenney are closing hundreds of stores and filing for bankruptcy. Here’s the full list of closing department stores. Visit Business Insider’s homepage for more stories. Major department stores are filing for bankruptcy and closing hundreds of locations and as they struggle to adjust […]
Department stores are shutting down across the US — here’s the list of stores that Macy’s, Nordstrom, JCPenney and others have announced for closure
News

Retailers like Walmart, Target, and Best Buy are opting to close their doors on Thanksgiving Day in response to the pandemic. Check out the full list.

After Walmart became the first major retailer to announce plans to close on Thanksgiving Day, other companies are starting to follow suit, citing the coronavirus outbreak as the catalyst. The closures are challenging the future of the already contentious practice of staying open on the holiday, which some retailers have […]
Retailers like Walmart, Target, and Best Buy are opting to close their doors on Thanksgiving Day in response to the pandemic. Check out the full list.
News

Sephora cut ‘a number’ of jobs tied to its JCPenney partnership, resurfacing concerns about the deal with the bankrupt department store

Sephora laid off 117 people, including “a number” of workers focused on its partnership with JCPenney, Retail Dive reported earlier this week. JCPenney is in the process of closing 152 stores. Before the bankruptcy, Sephora operated about 600 shops inside of JCPenney department stores, which it calls SiJCP. Ultimately, though, […]
Sephora cut ‘a number’ of jobs tied to its JCPenney partnership, resurfacing concerns about the deal with the bankrupt department store
News

JCPenney is cutting 1,000 jobs as it closes 152 stores

JCPenney is cutting 1,000 jobs as it closes stores. “The global health and economic crisis caused by the coronavirus (COVID-19) pandemic has forced retailers to make difficult decisions,” JCPenney CEO Jill Soltau said in a statement. Visit Business Insider’s homepage for more stories. JCPenney said Wednesday that it plans to […]
JCPenney is cutting 1,000 jobs as it closes 152 stores
News

27 clothing brands that have announced major store closures

Many clothing retailers have announced store closures in the past year, and the coronavirus pandemic has led to even more. Legacy department stores Century 21, Lord & Taylor, and Neiman Marcus are all facing store closures. In October, Gap Inc. announced it would begin exiting malls and shutter 350 stores […]
27 clothing brands that have announced major store closures
News

JCPenney is closing 2 more stores for good

JCPenney has added two more stores to the list of locations it plans to close. Both stores are located in New York City. The department store chain filed for Chapter 11 bankruptcy in May and later said it planned to close about 30% of its stores. Visit Business Insider’s homepage […]
JCPenney is closing 2 more stores for good
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