JCPenney Avoids Liquidation, but Hard Work Remains

Department store agrees to be sold to real estate groups Simon and Brookfield

JCPenney avoided possible liquidation by reaching an agreement to be purchased by mall operators Simon and Brookfield. Getty Images

After weeks of wrangling and a dearth of bidders, bankrupt JCPenney has finally found a buyer—mall operators Brookfield Property Group and Simon Property Group—and will avoid liquidation.

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@RichCollings Richard Collings is a retail reporter at Adweek.