Find in the news:
BY COUNTRY

Shopping mall landlords are now planning to buy J.C. Penney



The purchase will be an attempt to help keep the chain of department stores, which has declared bankruptcy, afloat and prevent downtime of commercial real estate.
J.C. Penney Wikimedia

In mid-May, the U.S. chain of J.C. Penney, facing financial difficulties amidst the Coronavirus pandemic, filed for bankruptcy. This step prevented the immediate liquidation of the company but put it before the need to restore its financial solvency and to continue its existence.

Discussions that the network may be sold in the near future to one of the major players in the market are proceeding quite actively. A possible buyer could even be called Amazon.

However, one of the likely candidates for the purchase of a chain of department stores would be the current landlord J.C. Penney. Owners of premises rented by the American network of department stores, Brookfield Property Partners, and Simon Property Group together with the company Authentic Brands Group, will likely become owners of the bankrupt network. As of publishing house, The Motley Fool reports, with reference to informed sources, negotiations on a deal are already being conducted.

For owners of commercial real estate who are among the largest operators of shopping centers in the U.S., such acquisitions are a step towards maintaining their numerous shopping properties. In case of a liquidation of J.C. Penney, huge areas will be idle, as it will be quite difficult to find such a large tenant in an unstable market. 

Three companies have already participated in such a buyout of bankrupt retailers. In 2016, they bought the clothing manufacturer Aeropostale for $243 million after bankruptcy. And in February 2020, the three companies were acquired retailer FOREVER 21, the amount of the deal was 81 million dollars.

More about shopping malls in the USA



Oct 22, 2021, USA:
Cyber-sports arenas, basketball courts, and aquariums are replacing storefronts and retail spaces.
Oct 22, 2021, USA:
The video host will host a week of "live shopping" as part of its "YouTube Holiday Stream and Shop" event.
Oct 21, 2021, India:
Flagship stores at the mall include Diesel, Replay, Hugo Boss, Emporio Armani, and Paul Smith.
Oct 21, 2021, USA:
Camp continues to experiment with the format by opening new retail stores in the U.S.
Oct 18, 2021, USA:
More than 100 stores will open by the end of 2021, including a new experimental concept.
Oct 16, 2021, USA:
The center is scheduled to open in the first quarter of next 2021.
Friend
and Follow
Designer Outlet Malaga GLA:322 917 SF
ADDRESS: 29004, Málaga, Spain
Spain . Malaga
Designer Outlet Malaga
Silesia City Centre GLA:699 654 SF
ADDRESS: Chorzowska 107
Poland . Katowice
Silesia City Centre
Central Children's Store GLA:370 192 SF
ADDRESS: Teatralnyi proezd, 5
Russia . Moscow region
Central Children's Store
Mall of Scandinavia GLA:1 087 155 SF
ADDRESS: Evenemangsgatan 11 169 56 Solna
Sweden . Stockholm
Mall of Scandinavia


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us