Judge Approves Nike-JCPenney Trade Agreement
Nike, which is JCP’s #4 brand overall, will begin shipping merchandise to the department store after the bankruptcy court judge approved a deal that will get $30 million of Swoosh product sent immediately, and another $50 million upon entry of a final order. JCPenney will be allowed to pay Nike $19,588,633.06 for one pre-petition claim, and another $2 million from an already approved $25 ... Log in to view full article.
