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



May 14, 2021, USA:
The largest U.S. retailer is putting more effort into gaining a stronger foothold in the fashion market.
May 13, 2021, Italy:
Diesel has announced a new phase of its For Responsible Living sustainability initiative, Diesel Library.
May 12, 2021, USA:
L Brands does not intend to sell its women's lingerie brand Victoria's Secret and separate it into a separate public company.
May 11, 2021, USA:
Charlie and Dixie D'Amelio will be the faces of a new clothing brand for teens called Social Tourist.
May 11, 2021, USA:
There is something of a state of euphoria in the actions of shoppers who have had the opportunity to return to shopping malls.
May 11, 2021, USA:
The primary demand of the protests, scheduled for May 19, is an increase in the minimum wage.
Friend
and Follow
Vegas Crocus City GLA:1 199 078 SF
ADDRESS: 61 km Moscow Ring Road
Russia . Moscow region
Vegas Crocus City
Arkadia GLA:1 184 030 SF
ADDRESS: Aleja Jana Pawla II 82, 00-175
Poland . Warsaw
Arkadia
Aviapark GLA:2 475 699 SF
ADDRESS: ul. Aviakonstruktora Mikoyana, 10
Russia . Moscow region
Aviapark
Cabot Circus GLA:990 280 SF
ADDRESS: Glass House, Bristol BS1 3BX
United Kingdom . Bristol
Cabot Circus


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