A Boston-based private equity firm has reached a deal to buy 119 JCPenney stores, including the Mall of Louisiana location, for $947 million.
An affiliate of Onyx Partners Ltd. is set to close on the purchase by Sept. 8, according to a news release issued last week. The seller was Copper Property CTL Pass Through Trust, a trust set up by JCPenney’s lenders as part of the reorganization after the company filed for bankruptcy in 2020.
It is not clear what Onyx will do with all of the stores…