Leave all your troubles behind

CNBC reports:

U.S. mall owners Simon Property Group and Brookfield Property Partners are close to finalizing an $800 million deal to rescue the embattled department store chain J.C. Penney from bankruptcy, avoiding a total liquidation and saving about 70,000 jobs and 650 stores, Joshua Sussberg of the law firm Kirkland & Ellis said Wednesday. 

Simon and Brookfield will pay roughly $300 million in cash and assume $500 million in debt, Sussberg said during a court hearing. 

Meantime, the hedge funds and private equity firms that have financed Penney’s ...

Subscription Required

In order to view the entire article please either register an account and subscribe or login with a valid subscription below

Please Register

Please either or click register below to continue Register

COMMENTS 0