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Who will come to J.C. Penney’s rescue?

June 17, 2020

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J.C. Penney is facing a deadline that it may not be able to meet. The department store operator, which filed for bankruptcy in May, is at risk of running out of cash by July 15 if something dramatic doesn’t happen to change its financial position. All hope is not apparently lost, however, as reports have surfaced that Authentic Brands Group (ABG), Simon Property Group and Brookfield Property Partners are planning to make a bid for Penney.

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