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Onyx partners will pay $947 million for 119 jcpenney stores, including 21 in texas, 19 in california and two in puerto rico. Penney swings to a loss last year’s sales declines and steep net loss put the retailer at the bottom of the struggling department store sector. Jcpenney and sparc group today announced that they have combined to form a new organization, catalyst brands, creating an unmatched portfolio of six iconic retail banners that celebrate the essence of american style.
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Is jcpenney being bought out All affected stores are currently open, but it's unclear whether they. A buyer was finally found after the 2020 bankruptcy filing
How many stores are left
Over 100 jcpenney stores have been sold in a $947 million deal, five years after the retailer filed for chapter 11 bankruptcy during the height of covid. More than 100 jcpenney stores nationwide, including more than 20 in texas, have been sold to a private equity firm for $947 million in cash. 119 jcpenney stores sold in major deal, including some in illinois the nearly $950m deal comes five years after the struggling department store chain declared bankruptcy An affiliate of onyx partners is buying 119 jcpenney stores for $947 million, with the deal expected to close on september 8
