More than 100 JCPenny stores sold off through $1B post-bankruptcy deal

At least 119 JCPenney stores across the U.S. are set to change ownership in a major $947 million deal announced last week. The agreement comes five years after the retailer filed for Chapter 11 bankruptcy at the height of the COVID-19 pandemic. As part of its restructuring, the department store chain transferred ownership of 160 store properties and six distribution centers to a liquidating trust established on behalf of its secured lenders. Copper Property CTL Pass Through Trust announced last Friday that it is selling 119 operating JCPenney stores across...