Mall Owners Simon and Brookfield to Rescue J.C. Penney

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C. Penny will stay open the retailer announcing today that it has struck a tentative deal with mall owners, Simon Property Group and Brookfield Property Partners, and that will save more than 600 stores from liquidation. J. C. Penney filed for Chapter 11 bankruptcy in May, after the pandemic worsened its struggles that it had been dealing with. If this deal goes through, the new owners will expect to take on about $500 million in debt at Home

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