Earlier this week Brookfield Properties, Simon Property Group, and First Lien Lenders received court approval for an asset purchase agreement with JCPenney. It looks to me like this drawn out bankruptcy process will finally end and the new ownership will begin operating later this month. (November 2020)
All the talking seems to be over, now it is time for action. Before I list the individual decisions, I want to point out that ABG (Authentic Brands Group) has joined the acquiring partners in a “minor” role as intellectual property experts. Whoa! That means they know something about retailing, and what JCPenney should sell in the future. It also suggests they know something about the JCPenney customer.
