Bankrupt J.C. Penney bought by mall operators
The 118 years old American struggling retailer, operating 850 locations for a turnover of $10.7bn, avoided total liquidation by selling its retail business to mall operators, valorising the company at $1.75bn and saving 70k jobs out of 85 in total.
Bankrupt J.C. Penney Is Bought by Mall Operators in Need of Tenants
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