JCPenney Sells 119 Stores in Major All-Cash Deal
A massive department store brand is selling more than a hundred of its locations.
Approximately five years ago, JCPenney filed for bankruptcy.
Now, a Boston private equity firm is buying out 119 of their stores, according to USA Today.
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The report mentions that this is an “all-cash-sale” and that they will pay approximately $947 million for all of these locations. This payout will allegedly go to pay off JCPenney creditors…