(KNUE-FM) Life is changing all around us here in Texas, most of which has to do with new technology, although it can be almost sad when we hear about stores being closed or sold. Well, at least for now we don’t need to worry about stores being closed, although recently JCPenney did sell 119 of their stores to a Boston-based private equity firm.
Deal Overview & Buyer Details
According to KVUE, The $947 million deal covers 119 JCPenney locations. This change is happening about five years after JCPenney filed for bankruptcy.
The group making the purchase is Onyx Partners, Ltd. The all-cash transaction will be $947 million and is scheduled to close on or before September 8, 2025.
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