A comprehensive look at the many ways the coronavirus has severely hit brands across the industry.
The retailer’s bankruptcy sale of its operating business to its landlords is complete, marking a new chapter in its 118-year history.
Company shares fell more than 33 percent during Monday’s trading session as a result.
A Texas bankruptcy court approved the sale to landlords and lenders, agreeing it was the retailer’s only viable option to stay in business.
The retailer heads to a hearing Monday on its deal with landlords and lenders, while shareholders have raised questions about value.
But the mall owner said the company will ultimately benefit from a leaner portfolio post-pandemic.
The retailer and majority first-lien lenders have settled with a minority lender group, and agreed to have a sale hearing next week.
The retailer said it is charting a course to exit bankruptcy before the holiday season.
The ongoing conflict between J.C. Penney’s lender constituencies reflects the ever-present struggles in a bankruptcy.
WWD and Unilever Prestige present a pioneering grant initiative designed to showcase the next generation of business…