2025’s been an ugly year for department stores in Idaho. Macy’s chose to pull out of the unusually thriving Silver Lake Mall in Coeur d’Alene. JCPenney closed their location at the soon-to-be reimagined Pine Ridge Mall in Chubbuck. Closer to home? I don’t think that any of us saw Kohl’s closing their location at Boise Towne Square Mall coming.
Now, one of the remaining four Idaho JCPenney stores is part of a nearly $1 billion deal involving more than 100 JCPenney locations across the country.
USA Today reports the iconic department store brand is selling 119 of their stores to a private equity firm based in Boston, Massachusetts named Onyx Partners, Ltd. The firm plans to pay $947 million cash for the properties, with most of that money going back to the people and companies JCPenney owed money to when the brand went through bankruptcy in 2020. The deal is expected to close on September 8…