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Article Date: November 2020
Word Count: 301

JCPenney Settlement Paves Way for Ch. 11 Exit


The retailer is steps closer to emerging from bankruptcy ahead of the crucial Holiday season with agreements and settlements on its two-pronged sale effort to shore up confidence from its vendors. JCP entered an asset purchase agreement Oct. 28 with Brookfield Asset Management, Inc., Simon Property Group and a majority of its first lien lenders on the sale of its operations. This was followed by a settlement with minority debt holders on the separate sale of its real estate assets, revealed in a court filing this morning. The basic framework of the asset purchase agreement is in line with plans ... Log in to view full article.

 


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