YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
J.C. Penney's two largest landlords and its primary lenders have been approved to buy the 118-year-old retailer out of bankruptcy. The deal could close by Thanksgiving, sources say.
Brookfield Asset Management Inc. and Simon Property Group have offered a combination of cash and new term loan debt. The move would kickstart J.C. Penney's bankruptcy reorganization plan that also calls for closing nearly a third of its stores in the next two years.
J.C. Penney filed for Chapter 11 bankruptcy in May, one of over two dozen retailers to do so during the pandemic.
Read more from U.S. News & World Report.
An updated Lawrence County Health Department facility is under construction in a new development area on the south side of Mount Vernon, according to project officials.